Albany International Corp. (NYSE:AIN) Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. raised its stake in shares of Albany International Corp. (NYSE:AIN) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,014 shares of the textile maker’s stock after buying an additional 892 shares during the period. Bessemer Group Inc. owned approximately 0.05% of Albany International worth $1,361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIN. American Century Companies Inc. lifted its position in Albany International by 3,380.5% in the fourth quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker’s stock worth $67,925,000 after purchasing an additional 824,975 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Albany International in the fourth quarter valued at $62,181,000. Norges Bank bought a new position in Albany International during the fourth quarter valued at about $39,044,000. Raymond James Financial Inc. acquired a new position in Albany International during the fourth quarter worth about $19,349,000. Finally, New Age Alpha Advisors LLC bought a new stake in Albany International in the fourth quarter worth about $4,300,000. 97.37% of the stock is currently owned by institutional investors.

Albany International Price Performance

AIN opened at $65.24 on Tuesday. Albany International Corp. has a 12-month low of $57.71 and a 12-month high of $95.47. 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 firm has a market capitalization of $2.02 billion, a P/E ratio of 20.39 and a beta of 1.29. The stock has a fifty day moving average of $73.28 and a 200-day moving average of $77.20.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (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 analysts’ expectations of $299.52 million. Equities analysts forecast that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.66%. Albany International’s payout ratio is 38.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AIN shares. StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company 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 report on Tuesday, January 14th. Finally, Bank of America reduced their target price on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a report on Tuesday, March 25th. One 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’s stock. According to data from MarketBeat.com, Albany International has a consensus rating of “Moderate Buy” and an average price target of $82.00.

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.