Raymond James Financial Inc. Takes Position in Albany International Corp. (NYSE:AIN)

Raymond James Financial Inc. purchased a new stake in shares of Albany International Corp. (NYSE:AIN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 241,958 shares of the textile maker’s stock, valued at approximately $19,349,000. Raymond James Financial Inc. owned about 0.77% of Albany International as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of AIN. Quarry LP grew its holdings in shares of Albany International by 515.4% during the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after buying an additional 402 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after buying an additional 503 shares during the last quarter. KBC Group NV grew its holdings in shares of Albany International by 28.9% during the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after buying an additional 237 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings 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 valued at $184,000 after buying an additional 320 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Albany International during the fourth quarter valued at about $226,000. Institutional investors own 97.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Robert W. Baird cut their price target on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Truist Financial boosted their price target on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Albany International Stock Performance

Shares of AIN stock opened at $74.16 on Monday. The firm has a market cap of $2.29 billion, a price-to-earnings 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 52 week low of $67.39 and a 52 week high of $96.49. The firm’s 50-day simple moving average is $79.04 and its two-hundred day simple moving average is $80.22.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.05). The company had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. As a group, equities analysts forecast 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. Investors of record on Friday, March 21st will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, March 21st. Albany International’s 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.