Polymer Capital Management US LLC Acquires Shares of 3,087 Albany International Corp. (NYSE:AIN)

Polymer Capital Management US LLC bought a new position in shares of Albany International Corp. (NYSE:AIN) in the fourth quarter, Holdings Channel reports. The fund bought 3,087 shares of the textile maker’s stock, valued at approximately $247,000.

Other institutional investors also recently modified their holdings of the company. Quarry LP increased its position in Albany International by 515.4% during the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after acquiring an additional 402 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after purchasing an additional 503 shares during the period. Vestcor Inc bought a new position in shares of Albany International during the fourth quarter worth approximately $70,000. Meeder Asset Management Inc. acquired a new stake in shares of Albany International in the fourth quarter valued at approximately $88,000. Finally, KBC Group NV boosted its stake in shares of Albany International by 41.3% in the fourth quarter. KBC Group NV now owns 1,495 shares of the textile maker’s stock valued at $120,000 after buying an additional 437 shares during the period. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

Albany International stock opened at $60.10 on Tuesday. The stock has a market cap of $1.86 billion, a PE ratio of 18.78 and a beta of 1.29. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International Corp. has a 12-month low of $57.71 and a 12-month high of $95.47. The business’s 50-day moving average price is $75.64 and its two-hundred day moving average price is $78.26.

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

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Friday, March 21st. Albany International’s payout ratio is 38.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial lifted their price objective on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Robert W. Baird decreased their target price on shares of 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 upgraded shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Bank of America reduced their price target on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.00.

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.