New Age Alpha Advisors LLC Acquires Shares of 53,773 Albany International Corp. (NYSE:AIN)

New Age Alpha Advisors LLC bought a new position in Albany International Corp. (NYSE:AIN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,773 shares of the textile maker’s stock, valued at approximately $4,300,000. New Age Alpha Advisors LLC owned about 0.17% of Albany International as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in Albany International by 3,380.5% in the 4th quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker’s stock worth $67,925,000 after purchasing an additional 824,975 shares in the last quarter. Norges Bank acquired a new position in shares of Albany International in the 4th quarter valued at $39,044,000. Raymond James Financial Inc. purchased a new stake in Albany International during the fourth quarter worth $19,349,000. JPMorgan Chase & Co. grew its position in Albany International by 63.4% during the fourth quarter. JPMorgan Chase & Co. now owns 131,768 shares of the textile maker’s stock valued at $10,537,000 after buying an additional 51,150 shares during the period. Finally, Sei Investments Co. grew its position in Albany International by 7.0% during the fourth quarter. Sei Investments Co. now owns 729,377 shares of the textile maker’s stock valued at $58,328,000 after buying an additional 47,936 shares during the period. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Price Performance

Shares of Albany International stock opened at $69.39 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The business has a 50 day simple moving average of $77.46 and a two-hundred day simple moving average of $79.19. The stock has a market capitalization of $2.14 billion, a P/E ratio of 21.68 and a beta of 1.37. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $95.47.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $286.91 million during the quarter, compared to analyst estimates of $299.52 million. As a group, analysts predict that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.56%. Albany International’s dividend payout ratio is presently 38.71%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AIN shares. Robert W. Baird lowered their target price on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. TD Cowen upgraded Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Bank of America cut their price objective on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Albany International presently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

About Albany International

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.