Albany International Corp. (NYSE:AIN) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of Albany International Corp. (NYSE:AIN) by 2.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 994,940 shares of the textile maker’s stock after selling 30,207 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Albany International were worth $84,023,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Albany International by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after acquiring an additional 11,052 shares during the period. Dimensional Fund Advisors LP raised its stake in Albany International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after purchasing an additional 52,909 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Albany International by 3.5% in the 2nd quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock valued at $61,335,000 after purchasing an additional 24,430 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Albany International by 2.0% in the 2nd quarter. Sei Investments Co. now owns 708,373 shares of the textile maker’s stock valued at $59,822,000 after purchasing an additional 13,581 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in shares of Albany International by 2.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 688,522 shares of the textile maker’s stock valued at $64,384,000 after buying an additional 17,832 shares during the period. 97.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AIN. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America cut their price objective on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a report on Wednesday, May 29th. Finally, Truist Financial decreased their target price on Albany International from $104.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $95.50.

Albany International Stock Down 1.7 %

Shares of Albany International stock opened at $87.01 on Friday. The company has a fifty day moving average price of $89.08 and a 200 day moving average price of $88.42. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. Albany International Corp. has a twelve month low of $78.20 and a twelve month high of $99.41. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 2.36 and a beta of 1.26.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $331.99 million during the quarter, compared to analysts’ expectations of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. Albany International’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. Equities research analysts forecast that Albany International Corp. will post 3.71 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.20%. Albany International’s dividend payout ratio is currently 29.21%.

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.