Albany International Corp. (NYSE:AIN) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in Albany International Corp. (NYSE:AIN) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,875 shares of the textile maker’s stock after buying an additional 9,091 shares during the period. Bank of New York Mellon Corp owned about 0.97% of Albany International worth $24,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AIN. Quarry LP raised its stake in 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 buying an additional 402 shares in the last quarter. KBC Group NV raised 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 buying an additional 237 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in 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 buying an additional 320 shares in the last quarter. Bridges Investment Management Inc. acquired a new stake in shares of Albany International during the third quarter worth about $206,000. 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 currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Albany International Stock Performance

NYSE AIN opened at $73.34 on Monday. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International Corp. has a 52-week low of $67.39 and a 52-week high of $96.49. The business’s 50-day moving average price is $79.70 and its 200 day moving average price is $80.85. The firm has a market cap of $2.30 billion, a P/E ratio of 22.92 and a beta of 1.37.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) 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. On average, equities research analysts expect that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Friday, March 21st. 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.