Voya Investment Management LLC Has $20.82 Million Stake in Albany International Corp. (NYSE:AIN)

Voya Investment Management LLC lifted its holdings in Albany International Corp. (NYSE:AIN) by 552.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 260,394 shares of the textile maker’s stock after purchasing an additional 220,504 shares during the period. Voya Investment Management LLC’s holdings in Albany International were worth $20,824,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AIN. JPMorgan Chase & Co. increased its position in Albany International by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker’s stock worth $7,163,000 after buying an additional 9,931 shares during the period. Advantage Alpha Capital Partners LP boosted its holdings in Albany International by 18.1% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 28,164 shares of the textile maker’s stock valued at $2,252,000 after purchasing an additional 4,307 shares during the period. Principal Financial Group Inc. grew its position in Albany International by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after purchasing an additional 36,274 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Albany International by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock worth $279,403,000 after purchasing an additional 12,687 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Albany International during the fourth quarter valued at about $521,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Price Performance

Shares of Albany International stock opened at $65.81 on Friday. Albany International Corp. has a 1-year low of $57.71 and a 1-year high of $95.47. The firm’s 50-day moving average price is $70.27 and its two-hundred day moving average price is $76.24. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 20.57 and a beta of 1.29.

Albany International (NYSE:AIN) last issued its quarterly earnings data 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). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. On average, equities analysts predict that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders 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 1.64%. The ex-dividend date was Friday, March 21st. Albany International’s dividend payout ratio is presently 38.71%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AIN. JPMorgan Chase & Co. lowered their price target on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Truist Financial decreased their price target on shares of Albany International from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Bank of America dropped their price objective on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research note on Tuesday, March 25th. Robert W. Baird lowered their target price on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Finally, StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, April 17th. One investment 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. According to MarketBeat.com, Albany International presently has an average rating of “Moderate Buy” and an average price target of $80.40.

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.