Dark Forest Capital Management LP Sells 3,211 Shares of Albany International Corp. (NYSE:AIN)

Dark Forest Capital Management LP reduced its position in shares of Albany International Corp. (NYSE:AIN) by 54.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,684 shares of the textile maker’s stock after selling 3,211 shares during the quarter. Dark Forest Capital Management LP’s holdings in Albany International were worth $215,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Albany International by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock worth $279,403,000 after buying an additional 12,687 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Albany International by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker’s stock worth $88,217,000 after acquiring an additional 9,226 shares during the period. American Century Companies Inc. raised its position in shares of Albany International by 3,380.5% during the 4th quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker’s stock valued at $67,925,000 after acquiring an additional 824,975 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Albany International in the 4th quarter valued at $62,181,000. Finally, Sei Investments Co. boosted its position in shares of Albany International by 7.0% in the 4th quarter. Sei Investments Co. now owns 729,377 shares of the textile maker’s stock worth $58,328,000 after purchasing an additional 47,936 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AIN shares. Robert W. Baird dropped their price objective on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. cut their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, April 17th. Truist Financial lowered their target price on shares of Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Bank of America dropped their price objective on Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.40.

Albany International Trading Down 0.2 %

AIN opened at $66.44 on Wednesday. The stock has a market capitalization of $2.05 billion, a P/E ratio of 20.76 and a beta of 1.29. The company has a current ratio of 3.68, a quick ratio of 2.94 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 firm’s fifty day simple moving average is $69.63 and its 200 day simple moving average is $76.17.

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

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.63%. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

About Albany International

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.