Central Pacific Bank Trust Division Increases Stake in Albany International Corp. (NYSE:AIN)

Central Pacific Bank Trust Division increased its holdings in Albany International Corp. (NYSE:AIN) by 40.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,985 shares of the textile maker’s stock after purchasing an additional 570 shares during the period. Central Pacific Bank Trust Division’s holdings in Albany International were worth $176,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AIN. Whittier Trust Co. boosted its position in Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after buying an additional 266 shares during the period. GAMMA Investing LLC boosted its position in Albany International by 27.4% during the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after buying an additional 145 shares during the period. Hilltop National Bank boosted its position in Albany International by 14.7% during the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after buying an additional 134 shares during the period. SG Americas Securities LLC purchased a new stake in Albany International during the 1st quarter valued at $102,000. Finally, EntryPoint Capital LLC boosted its position in Albany International by 69.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,931 shares of the textile maker’s stock valued at $181,000 after buying an additional 794 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

AIN has been the subject of several research reports. TD Cowen decreased their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Truist Financial decreased their price objective on shares of Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Albany International has a consensus rating of “Hold” and an average target price of $89.50.

Albany International Stock Up 0.5 %

Shares of Albany International stock opened at $77.72 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87. The company has a 50-day moving average of $87.95 and a 200 day moving average of $87.87. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 2.42 and a beta of 1.25. Albany International Corp. has a 1 year low of $77.07 and a 1 year high of $99.41.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, sell-side analysts anticipate that Albany International Corp. will post 3.71 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.34%. Albany International’s dividend payout ratio is currently 29.21%.

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.