Albany International Corp. (NYSE:AIN) Shares Bought by Legato Capital Management LLC

Legato Capital Management LLC lifted its stake in shares of Albany International Corp. (NYSE:AIN) by 16.4% during the fourth quarter, Holdings Channel reports. The fund owned 16,221 shares of the textile maker’s stock after purchasing an additional 2,284 shares during the quarter. Legato Capital Management LLC’s holdings in Albany International were worth $1,297,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of 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 buying an additional 402 shares in the last quarter. KBC Group NV grew its stake in Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after acquiring an additional 237 shares during the period. Central Pacific Bank Trust Division raised its holdings in Albany International by 16.1% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after acquiring an additional 320 shares during the last quarter. Bridges Investment Management Inc. purchased a new position in shares of Albany International during the 3rd quarter worth $206,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Albany International during the fourth quarter worth $226,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Trading Down 1.5 %

NYSE:AIN opened at $79.45 on Thursday. The business’s 50-day moving average is $80.67 and its two-hundred day moving average is $82.21. The firm has a market capitalization of $2.49 billion, a PE ratio of 24.83 and a beta of 1.34. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $98.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94.

Albany International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Tuesday, December 17th. This is a boost from Albany International’s previous quarterly dividend of $0.26. Albany International’s dividend payout ratio is currently 33.75%.

Wall Street Analyst Weigh In

Several research firms recently commented on AIN. Truist Financial upped their target price on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. 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 note on Wednesday, January 15th. Finally, Bank of America decreased their price target on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Albany International has a consensus rating of “Moderate Buy” and an average target price of $80.75.

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.