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

Legato Capital Management LLC boosted its stake in shares of Albany International Corp. (NYSE:AIN) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,221 shares of the textile maker’s stock after acquiring an additional 2,284 shares during the quarter. Legato Capital Management LLC owned about 0.05% of Albany International worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Albany International by 22.1% during the second quarter. AQR Capital Management LLC now owns 3,038 shares of the textile maker’s stock worth $257,000 after purchasing an additional 549 shares during the period. Creative Planning raised its position in Albany International by 3.0% during the 2nd quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock worth $424,000 after buying an additional 147 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Albany International by 12.5% in the 3rd quarter. Inspire Investing LLC now owns 4,670 shares of the textile maker’s stock worth $415,000 after acquiring an additional 520 shares during the period. Blue Trust Inc. boosted its holdings in shares of Albany International by 20.2% in the third quarter. Blue Trust Inc. now owns 3,245 shares of the textile maker’s stock valued at $274,000 after acquiring an additional 545 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Albany International by 60.5% during the third quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock worth $14,335,000 after acquiring an additional 60,812 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Bank of America decreased their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. TD Cowen upgraded Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.75.

Albany International Stock Performance

NYSE AIN opened at $79.45 on Thursday. The business has a 50 day moving average price of $80.67 and a 200 day moving average price of $82.21. The company has a market capitalization of $2.49 billion, a P/E ratio of 24.83 and a beta of 1.34. Albany International Corp. has a 1-year low of $67.39 and a 1-year 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 company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Tuesday, December 17th. This is an increase from Albany International’s previous quarterly dividend of $0.26. Albany International’s payout ratio is 33.75%.

Albany International 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.