Brown Advisory Inc. Has $32.16 Million Stock Holdings in Albany International Corp. (NYSE:AIN)

Brown Advisory Inc. trimmed its stake in shares of Albany International Corp. (NYSE:AIN) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 402,133 shares of the textile maker’s stock after selling 18,056 shares during the quarter. Brown Advisory Inc. owned 1.28% of Albany International worth $32,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in AIN. JPMorgan Chase & Co. lifted its position in shares of Albany International by 14.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker’s stock worth $7,163,000 after buying an additional 9,931 shares during the period. Advantage Alpha Capital Partners LP lifted its holdings in shares of Albany International by 18.1% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 28,164 shares of the textile maker’s stock valued at $2,252,000 after acquiring an additional 4,307 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Albany International by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock valued at $52,071,000 after purchasing an additional 36,274 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Albany International by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock worth $279,403,000 after purchasing an additional 12,687 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Albany International in the 4th quarter worth about $521,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Stock Up 0.9 %

Shares of AIN opened at $64.00 on Tuesday. The business’s fifty day moving average price is $68.37 and its two-hundred day moving average price is $75.89. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 20.00 and a beta of 1.37. Albany International Corp. has a 52 week low of $57.71 and a 52 week high of $95.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.15. The business had revenue of $288.77 million for the quarter, compared to analysts’ expectations of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 earnings per share. On average, analysts predict that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were issued a $0.27 dividend. The ex-dividend date was Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.69%. Albany International’s dividend payout ratio is currently 43.55%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Truist Financial reduced their price target on shares of Albany International from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, April 17th. Bank of America dropped their price target on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a report on Tuesday, March 25th. Robert W. Baird reduced their price objective on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.40.

Albany International Company Profile

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.