Franklin Resources Inc. Has $467,000 Position in Albany International Corp. (NYSE:AIN)

Franklin Resources Inc. lifted its position in shares of Albany International Corp. (NYSE:AIN) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,839 shares of the textile maker’s stock after acquiring an additional 988 shares during the period. Franklin Resources Inc.’s holdings in Albany International were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Integrated Investment Consultants LLC grew its holdings in shares of Albany International by 3.3% during the 4th 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. Central Pacific Bank Trust Division raised its position in Albany International by 16.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock worth $184,000 after purchasing an additional 320 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Albany International by 7.2% in the fourth quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker’s stock worth $400,000 after acquiring an additional 334 shares during the period. HighTower Advisors LLC raised its holdings in Albany International by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker’s stock worth $1,372,000 after purchasing an additional 342 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Albany International by 11.2% in the 4th 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. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on AIN shares. Truist Financial decreased their target price on Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday. Robert W. Baird cut their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. TD Cowen raised Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Bank of America reduced their price target on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Tuesday, March 25th. Finally, StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Albany International presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.40.

Albany International Stock Down 0.8 %

Shares of NYSE:AIN opened at $63.46 on Friday. The business has a fifty day moving average price of $72.31 and a two-hundred day moving average price of $76.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The company has a market capitalization of $1.96 billion, a PE ratio of 19.83 and a beta of 1.29. Albany International Corp. has a 1 year low of $57.71 and a 1 year high of $95.47.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.05). The company had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. Analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, March 21st. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

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.