PNC Financial Services Group Inc. Has $326,000 Position in Albany International Corp. (NYSE:AIN)

PNC Financial Services Group Inc. lowered its stake in shares of Albany International Corp. (NYSE:AIN) by 16.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,080 shares of the textile maker’s stock after selling 808 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Albany International were worth $326,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AIN. KBC Group NV grew its position in Albany International by 28.9% during the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after buying an additional 237 shares in the last quarter. Intech Investment Management LLC grew its position in Albany International by 72.4% during the third quarter. Intech Investment Management LLC now owns 9,114 shares of the textile maker’s stock worth $810,000 after buying an additional 3,827 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Albany International by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 397,975 shares of the textile maker’s stock worth $35,360,000 after buying an additional 15,120 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Albany International during the third quarter worth approximately $981,000. Finally, Quantbot Technologies LP grew its position in Albany International by 25.8% during the third quarter. Quantbot Technologies LP now owns 6,491 shares of the textile maker’s stock worth $577,000 after buying an additional 1,333 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

AIN has been the topic of a number of analyst reports. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial upped their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. TD Cowen upgraded Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. Robert W. Baird cut their target price on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. cut their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.00.

Albany International Stock Down 3.8 %

Shares of AIN opened at $70.70 on Friday. Albany International Corp. has a 52 week low of $67.39 and a 52 week high of $96.49. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 22.09 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. The stock has a fifty day moving average of $78.32 and a 200-day moving average of $79.70.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $286.91 million during the quarter, compared to the consensus estimate 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 fiscal 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 $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, March 21st. Albany International’s payout ratio is 38.71%.

Albany International Profile

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.