Swiss National Bank Buys 500 Shares of Albany International Corp. (NYSE:AIN)

Swiss National Bank boosted its stake in Albany International Corp. (NYSE:AIN) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,400 shares of the textile maker’s stock after buying an additional 500 shares during the quarter. Swiss National Bank owned approximately 0.20% of Albany International worth $4,910,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Quarry LP raised 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 during the last quarter. Smartleaf Asset Management LLC increased its stake in Albany International by 306.7% in the 4th 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 lifted its position in shares of Albany International by 41.3% during the 4th quarter. KBC Group NV now owns 1,495 shares of the textile maker’s stock worth $120,000 after buying an additional 437 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Albany International by 16.1% during the 4th 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Albany International in the 4th quarter worth approximately $226,000. 97.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AIN has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird reduced their price target 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. 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. Finally, TD Cowen raised shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Albany International Price Performance

Shares of NYSE:AIN opened at $72.76 on Tuesday. The firm has a market capitalization of $2.25 billion, a PE ratio of 22.74 and a beta of 1.37. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $78.18 and a two-hundred day moving average price of $79.47. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $96.49.

Albany International (NYSE:AIN) last released 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). 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 during the quarter, compared to the consensus estimate of $299.52 million. Equities analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be paid a $0.27 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.08 annualized dividend and a 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.