Wealthfront Advisers LLC Takes Position in Albany International Corp. (NYSE:AIN)

Wealthfront Advisers LLC purchased a new stake in shares of Albany International Corp. (NYSE:AIN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,075 shares of the textile maker’s stock, valued at approximately $646,000.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock worth $108,544,000 after buying an additional 36,944 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Albany International by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker’s stock worth $7,163,000 after buying an additional 9,931 shares in the last quarter. Natixis Advisors LLC increased its holdings in Albany International by 5.4% in the 3rd quarter. Natixis Advisors LLC now owns 239,697 shares of the textile maker’s stock worth $21,297,000 after buying an additional 12,262 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Albany International by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after buying an additional 36,274 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Albany International by 1.2% in the third quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker’s stock worth $63,609,000 after purchasing an additional 8,356 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.

Albany International Stock Up 2.4 %

AIN stock opened at $74.16 on Monday. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $96.49. 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 stock has a market cap of $2.29 billion, a P/E ratio of 23.17 and a beta of 1.37. The business’s 50-day moving average price is $79.04 and its 200-day moving average price is $80.22.

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 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 company had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. On average, equities research analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Announces Dividend

The firm 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 $0.27 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. Albany International’s dividend payout ratio is presently 38.71%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AIN. TD Cowen raised Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial raised 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 dropped 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, JPMorgan Chase & Co. dropped 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. 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, Albany International presently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

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.