Smartleaf Asset Management LLC Boosts Stock Position in Albany International Corp. (NYSE:AIN)

Smartleaf Asset Management LLC lifted its holdings in Albany International Corp. (NYSE:AIN) by 306.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 667 shares of the textile maker’s stock after purchasing an additional 503 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Albany International were worth $53,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIN. Quarry LP grew its holdings in shares of Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 402 shares in the last quarter. KBC Group NV grew its holdings in shares of Albany International by 28.9% in the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 237 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Albany International by 16.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after purchasing an additional 320 shares in the last quarter. Bridges Investment Management Inc. bought a new stake in Albany International in the third quarter worth $206,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Albany International in the fourth quarter worth $226,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AIN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Robert W. Baird lowered their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial raised their price target on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, TD Cowen upgraded Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Albany International Stock Down 0.6 %

NYSE:AIN opened at $72.86 on Tuesday. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $96.49. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 22.77 and a beta of 1.37. The stock has a fifty day simple moving average of $79.56 and a 200-day simple moving average of $80.74. 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 released its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Analysts anticipate that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.48%. Albany International’s dividend payout ratio is currently 38.71%.

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.