Swiss National Bank Increases Stock Position in Albany International Corp. (NYSE:AIN)

Swiss National Bank grew its stake in Albany International Corp. (NYSE:AIN) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,400 shares of the textile maker’s stock after buying an additional 500 shares during the period. Swiss National Bank’s holdings in Albany International were worth $4,910,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Quarry LP lifted its holdings in shares of Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after purchasing an additional 503 shares during the last quarter. KBC Group NV boosted its holdings in shares of Albany International by 41.3% in the 4th quarter. KBC Group NV now owns 1,495 shares of the textile maker’s stock worth $120,000 after purchasing an additional 437 shares in the last quarter. Central Pacific Bank Trust Division increased 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 valued at $184,000 after purchasing an additional 320 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Albany International during the 4th quarter valued at about $226,000. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Up 2.7 %

Shares of NYSE AIN opened at $72.76 on Tuesday. The firm has a fifty day simple moving average of $78.18 and a two-hundred day simple moving average of $79.47. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $96.49. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.25 billion, a PE ratio of 22.74 and a beta of 1.37.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $299.52 million. Equities analysts expect that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders 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 1.48%. The ex-dividend date of this dividend is Friday, March 21st. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analysts Forecast Growth

AIN has been the topic of a number of recent research reports. Truist Financial increased their price target on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Robert W. Baird decreased their price objective on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Finally, TD Cowen upgraded Albany International to a “strong-buy” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Albany International currently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

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.