Avantax Advisory Services Inc. Reduces Stake in Albany International Corp. (NYSE:AIN)

Avantax Advisory Services Inc. lowered its holdings in Albany International Corp. (NYSE:AIN) by 19.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,874 shares of the textile maker’s stock after selling 3,165 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Albany International were worth $1,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock worth $108,544,000 after buying an additional 36,944 shares during the period. JPMorgan Chase & Co. lifted its holdings in Albany International by 14.0% in 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. Principal Financial Group Inc. lifted its holdings in Albany International by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after buying an additional 36,274 shares during the period. Geode Capital Management LLC lifted its holdings in Albany International by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker’s stock worth $63,609,000 after buying an additional 8,356 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Albany International by 3.1% in the 4th quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker’s stock worth $24,381,000 after buying an additional 9,091 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AIN. Robert W. Baird decreased their target price on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. decreased their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. TD Cowen raised Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Truist Financial increased their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Albany International presently has an average rating of “Moderate Buy” and an average price target of $83.00.

Albany International Stock Up 1.1 %

AIN stock opened at $74.69 on Thursday. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $96.49. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.31 billion, a PE ratio of 23.34 and a beta of 1.37. The business has a 50 day moving average of $78.64 and a 200 day moving average of $79.91.

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

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, March 21st. Albany International’s payout ratio is 38.71%.

Albany International 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.