Charles Schwab Investment Management Inc. Raises Holdings in Albany International Corp. (NYSE:AIN)

Charles Schwab Investment Management Inc. increased its position in Albany International Corp. (NYSE:AIN) by 7.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 426,036 shares of the textile maker’s stock after purchasing an additional 28,061 shares during the period. Charles Schwab Investment Management Inc. owned 1.36% of Albany International worth $34,070,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AIN. Quarry LP increased its holdings in shares of Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after acquiring an additional 402 shares during the period. Smartleaf Asset Management LLC increased its stake in Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after purchasing an additional 503 shares during the period. KBC Group NV increased its stake in 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 during the period. Central Pacific Bank Trust Division boosted its stake in shares of Albany International by 16.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock worth $184,000 after buying an additional 320 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Albany International during the fourth quarter worth about $226,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIN has been the topic of several analyst reports. Truist Financial lifted their target price on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Robert W. Baird cut their price objective on shares of 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 shares of Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Albany International Stock Up 2.4 %

Shares of NYSE AIN opened at $74.16 on Monday. The firm has a market cap of $2.29 billion, a P/E ratio of 23.17 and a beta of 1.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $96.49. The firm’s 50 day moving average price is $79.04 and its 200 day moving average price is $80.22.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. As a group, sell-side analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. Albany International’s dividend payout ratio (DPR) is 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.