Albany International Corp. (NYSE:AIN) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of Albany International Corp. (NYSE:AINFree Report) by 81.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,006 shares of the textile maker’s stock after purchasing an additional 127,295 shares during the quarter. Envestnet Asset Management Inc. owned 0.91% of Albany International worth $24,504,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Albany International in the 3rd quarter valued at $377,000. QRG Capital Management Inc. acquired a new stake in Albany International in the third quarter valued at $269,000. Loomis Sayles & Co. L P lifted its holdings in Albany International by 0.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 717,724 shares of the textile maker’s stock worth $61,925,000 after buying an additional 5,374 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Albany International by 1.0% during the 3rd quarter. HighTower Advisors LLC now owns 16,134 shares of the textile maker’s stock worth $1,401,000 after acquiring an additional 156 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Albany International by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 336,485 shares of the textile maker’s stock worth $29,032,000 after acquiring an additional 12,727 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AIN. TheStreet upgraded Albany International from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. Truist Financial boosted their price objective on shares of Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $115.67.

Get Our Latest Stock Report on Albany International

Albany International Trading Down 0.3 %

AIN opened at $91.50 on Monday. The company has a quick ratio of 2.78, a current ratio of 3.53 and a debt-to-equity ratio of 0.50. Albany International Corp. has a 52 week low of $78.20 and a 52 week high of $103.11. The business’s 50 day moving average is $92.09 and its two-hundred day moving average is $88.89. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 3.41 and a beta of 1.27.

Albany International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 8th. Stockholders of record on Tuesday, December 19th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.14%. This is a boost from Albany International’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, December 18th. Albany International’s payout ratio is presently 32.91%.

About Albany International

(Free Report)

Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, nonwovens, building products, tannery, and textiles.

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Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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