Envestnet Asset Management Inc. Buys 7,006 Shares of Albany International Corp. (NYSE:AIN)

Envestnet Asset Management Inc. grew its stake in Albany International Corp. (NYSE:AINGet Rating) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,047 shares of the textile maker’s stock after acquiring an additional 7,006 shares during the quarter. Envestnet Asset Management Inc. owned 0.57% of Albany International worth $14,265,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its holdings in Albany International by 2.6% in the second quarter. Asset Management One Co. Ltd. now owns 63,857 shares of the textile maker’s stock worth $5,031,000 after acquiring an additional 1,619 shares in the last quarter. Charter Oak Capital Management LLC bought a new stake in Albany International in the second quarter worth $44,000. Mutual of America Capital Management LLC boosted its holdings in Albany International by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 4,666 shares of the textile maker’s stock worth $393,000 after acquiring an additional 242 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in Albany International by 251.6% in the first quarter. Westwood Holdings Group Inc. now owns 578,389 shares of the textile maker’s stock worth $48,769,000 after acquiring an additional 413,882 shares in the last quarter. Finally, Duality Advisers LP bought a new stake in Albany International in the first quarter worth $352,000. 98.94% of the stock is owned by institutional investors.

Albany International Stock Up 2.7 %

AIN stock opened at $95.95 on Friday. Albany International Corp. has a fifty-two week low of $75.24 and a fifty-two week high of $97.73. The business’s 50-day moving average is $85.53 and its two-hundred day moving average is $84.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.56 and a current ratio of 4.27. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 3.52 and a beta of 1.29.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Tuesday, September 6th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Friday, September 2nd. Albany International’s payout ratio is 25.15%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AIN. Truist Financial downgraded Albany International from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a report on Wednesday, October 12th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Wednesday, October 26th. Robert W. Baird upped their price target on Albany International from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Wednesday, October 26th. Finally, Alembic Global Advisors downgraded Albany International from an “overweight” rating to a “neutral” rating and set a $110.00 price target on the stock. in a report on Tuesday, August 16th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Albany International presently has a consensus rating of “Hold” and an average price target of $95.25.

Albany International Profile

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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, and towels.

See Also

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

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