Hsbc Holdings PLC Sells 473 Shares of Albany International Corp. (NYSE:AIN)

Hsbc Holdings PLC lowered its holdings in Albany International Corp. (NYSE:AIN) by 10.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,948 shares of the textile maker’s stock after selling 473 shares during the quarter. Hsbc Holdings PLC’s holdings in Albany International were worth $316,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its position 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 acquiring an additional 503 shares during the period. Sterling Capital Management LLC raised its position in shares of Albany International by 735.6% during the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock valued at $60,000 after buying an additional 662 shares during the last quarter. Vestcor Inc bought a new stake in shares of Albany International in the fourth quarter valued at about $70,000. Covestor Ltd grew its position in Albany International by 110.4% during the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker’s stock worth $71,000 after buying an additional 466 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Albany International during the fourth quarter valued at about $88,000. 97.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AIN. 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. JPMorgan Chase & Co. lowered their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Truist Financial reduced their price objective 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. StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Bank of America decreased their price objective on Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.40.

Albany International Trading Up 0.6 %

Shares of AIN stock opened at $65.62 on Friday. The company has a market capitalization of $2.03 billion, a P/E ratio of 20.51 and a beta of 1.37. 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 50-day moving average price of $67.62 and a 200 day moving average price of $75.62.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) 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 analysts’ expectations of $300.74 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. Albany International’s quarterly revenue was down 7.8% compared to the same quarter last year. Research analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors 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 annualized dividend and a yield of 1.65%. Albany International’s dividend payout ratio (DPR) is 43.55%.

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.