Albany International Corp. (NYSE:AIN) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE grew its holdings in shares of Albany International Corp. (NYSE:AIN) by 3,050.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,363,946 shares of the textile maker’s stock after purchasing an additional 1,320,654 shares during the period. Bank of America Corp DE owned 4.36% of Albany International worth $109,075,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in Albany International by 31.0% during the fourth quarter. BNP Paribas Financial Markets now owns 16,475 shares of the textile maker’s stock worth $1,318,000 after acquiring an additional 3,903 shares during the period. Algert Global LLC raised its position in shares of Albany International by 367.8% during the 4th quarter. Algert Global LLC now owns 47,232 shares of the textile maker’s stock worth $3,777,000 after purchasing an additional 37,136 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Albany International in the 4th quarter worth approximately $566,000. Northern Trust Corp boosted its position in Albany International by 12.2% during the 4th quarter. Northern Trust Corp now owns 346,422 shares of the textile maker’s stock valued at $27,703,000 after purchasing an additional 37,762 shares during the period. Finally, Earnest Partners LLC grew its stake in Albany International by 3.9% during the 4th quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker’s stock worth $211,209,000 after buying an additional 99,149 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.

Albany International Stock Up 0.6 %

Shares of AIN stock opened at $65.62 on Friday. The business’s fifty day moving average is $67.62 and its 200-day moving average is $75.64. Albany International Corp. has a 1 year low of $57.71 and a 1 year high of $95.47. The stock has a market cap of $1.98 billion, a PE ratio of 20.51 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.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.15. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $288.77 million during the quarter, compared to the consensus estimate of $300.74 million. During the same period in the prior year, the company earned $0.90 EPS. Albany International’s revenue was down 7.8% on a year-over-year basis. Equities analysts expect that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were given a dividend of $0.27 per share. The ex-dividend date was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.65%. Albany International’s dividend payout ratio (DPR) is presently 43.55%.

Wall Street Analysts Forecast Growth

AIN has been the subject of several analyst reports. Truist Financial reduced their price target on shares of Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Robert W. Baird reduced their target price on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America reduced their price objective on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Tuesday, March 25th. Finally, 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 note on Wednesday, January 15th. 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. According to MarketBeat, Albany International has an average rating of “Moderate Buy” and a consensus price target of $80.40.

Albany International Company 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.