Proficio Capital Partners LLC Acquires Shares of 18,873 Albany International Corp. (NYSE:AIN)

Proficio Capital Partners LLC acquired a new stake in shares of Albany International Corp. (NYSE:AIN) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 18,873 shares of the textile maker’s stock, valued at approximately $1,509,000.

Several other institutional investors have also added to or reduced their stakes in the business. Integrated Investment Consultants LLC lifted its holdings in Albany International by 3.3% during the fourth quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock valued at $386,000 after purchasing an additional 155 shares during the last quarter. KBC Group NV lifted its holdings in Albany International by 28.9% during the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 237 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in Albany International by 16.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after purchasing an additional 320 shares during the last quarter. Inspire Investing LLC lifted its holdings in Albany International by 7.2% during the fourth quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker’s stock valued at $400,000 after purchasing an additional 334 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Albany International by 11.2% during the fourth quarter. Blue Trust Inc. now owns 3,610 shares of the textile maker’s stock valued at $321,000 after purchasing an additional 365 shares during the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Stock Down 1.7 %

AIN stock opened at $73.44 on Friday. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $78.48 and its 200 day moving average is $79.87. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 22.95 and a beta of 1.37. Albany International Corp. has a 1-year low of $67.39 and a 1-year high of $96.49.

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 the consensus estimate of $0.63 by ($0.05). The company had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. Sell-side analysts predict that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, March 21st. Albany International’s dividend payout ratio (DPR) is 38.71%.

Analysts Set New Price Targets

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

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.