Charles Schwab Investment Management Inc. Purchases 15,120 Shares of Albany International Corp. (NYSE:AIN)

Charles Schwab Investment Management Inc. increased its holdings in Albany International Corp. (NYSE:AIN) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 397,975 shares of the textile maker’s stock after acquiring an additional 15,120 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.27% of Albany International worth $35,360,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Atria Investments Inc purchased a new position in shares of Albany International in the 1st quarter valued at $1,570,000. GAMMA Investing LLC grew its stake in Albany International by 27.4% in the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after purchasing an additional 145 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Albany International by 18.6% in the second quarter. Harbor Capital Advisors Inc. now owns 14,094 shares of the textile maker’s stock worth $1,190,000 after purchasing an additional 2,206 shares in the last quarter. Hilltop National Bank lifted its position in shares of Albany International by 14.7% during the second 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 last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of Albany International by 10.0% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 5,011 shares of the textile maker’s stock valued at $423,000 after buying an additional 455 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Insider Activity at Albany International

In other Albany International news, SVP Robert Alan Hansen acquired 1,050 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average price of $71.26 per share, with a total value of $74,823.00. Following the purchase, the senior vice president now owns 8,387 shares in the company, valued at approximately $597,657.62. The trade was a 14.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph M. Gaug purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $71.24 per share, with a total value of $71,240.00. Following the completion of the transaction, the vice president now directly owns 6,811 shares of the company’s stock, valued at approximately $485,215.64. This represents a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 3,450 shares of company stock valued at $245,813. 0.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AIN has been the subject of a number of analyst reports. TD Cowen decreased their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Truist Financial lowered their price target on Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, November 1st. Bank of America cut their price objective 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. Finally, StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Albany International presently has an average rating of “Hold” and an average price target of $85.50.

Albany International Trading Up 2.7 %

Shares of NYSE:AIN opened at $85.15 on Tuesday. The company has a market capitalization of $2.67 billion, a PE ratio of 26.61 and a beta of 1.29. Albany International Corp. has a 12-month low of $67.39 and a 12-month high of $99.41. The business has a 50 day moving average of $78.51 and a two-hundred day moving average of $84.32. 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 (NYSE:AIN) last issued its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $298.40 million for the quarter, compared to the consensus estimate of $304.51 million. During the same quarter in the prior year, the business posted $1.02 earnings per share. Albany International’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

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.