Fifth Third Bancorp Buys 4,994 Shares of Albany International Corp. (NYSE:AIN)

Fifth Third Bancorp raised its stake in shares of Albany International Corp. (NYSE:AINFree Report) by 31.6% during the 4th quarter, Holdings Channel reports. The fund owned 20,808 shares of the textile maker’s stock after purchasing an additional 4,994 shares during the period. Fifth Third Bancorp’s holdings in Albany International were worth $2,044,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AIN. Morgan Stanley boosted its position in Albany International by 74.2% during the 3rd quarter. Morgan Stanley now owns 890,785 shares of the textile maker’s stock valued at $76,857,000 after acquiring an additional 379,367 shares in the last quarter. Norges Bank bought a new stake in Albany International during the 4th quarter valued at $32,911,000. Citadel Advisors LLC boosted its position in Albany International by 189.5% during the 2nd quarter. Citadel Advisors LLC now owns 206,945 shares of the textile maker’s stock valued at $19,304,000 after acquiring an additional 135,472 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in Albany International during the 4th quarter valued at $12,803,000. Finally, Envestnet Asset Management Inc. boosted its position in Albany International by 81.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 284,006 shares of the textile maker’s stock valued at $24,504,000 after acquiring an additional 127,295 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial increased their target price on Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Bank of America reissued an “underperform” rating and issued a $95.00 price objective (down previously from $105.00) on shares of Albany International in a research report on Thursday, March 28th. TheStreet raised Albany International from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. Finally, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Albany International has a consensus rating of “Moderate Buy” and an average target price of $110.50.

View Our Latest Stock Report on Albany International

Albany International Trading Up 0.5 %

AIN stock opened at $89.19 on Thursday. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47. Albany International Corp. has a 12-month low of $78.20 and a 12-month high of $99.41. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 2.35 and a beta of 1.25. The business’s 50-day moving average is $92.10 and its 200 day moving average is $89.43.

Albany International (NYSE:AINGet Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.38. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The company had revenue of $323.60 million for the quarter, compared to analysts’ expectations of $298.17 million. During the same period in the previous year, the firm posted $0.75 EPS. Albany International’s revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Albany International Corp. will post 3.9 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, March 14th. Albany International’s dividend payout ratio is currently 29.30%.

About Albany International

(Free Report)

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.

Further Reading

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

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