Albany International Corp. (NYSE:AIN) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in Albany International Corp. (NYSE:AIN) by 11.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,572 shares of the textile maker’s stock after acquiring an additional 475 shares during the quarter. Bank of Montreal Can’s holdings in Albany International were worth $366,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AIN. Vanguard Group Inc. raised its stake in shares of Albany International by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock worth $279,403,000 after buying an additional 12,687 shares in the last quarter. American Century Companies Inc. lifted its stake in Albany International by 3,380.5% in the 4th quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker’s stock worth $67,925,000 after acquiring an additional 824,975 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Albany International during the 4th quarter valued at $62,181,000. Sei Investments Co. increased its position in Albany International by 7.0% in the 4th quarter. Sei Investments Co. now owns 729,377 shares of the textile maker’s stock worth $58,328,000 after purchasing an additional 47,936 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Albany International by 6.6% in the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after acquiring an additional 36,274 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

Shares of NYSE:AIN opened at $62.73 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. Albany International Corp. has a 1 year low of $57.71 and a 1 year high of $95.47. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 19.60 and a beta of 1.29. The company’s 50 day simple moving average is $71.27 and its 200 day simple moving average is $76.41.

Albany International (NYSE:AIN) last issued 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). The business had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. As a group, research analysts predict that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were issued a $0.27 dividend. The ex-dividend date was Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.72%. Albany International’s payout ratio is currently 38.71%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AIN shares. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut 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. Truist Financial cut 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. Bank of America reduced their price target on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 25th. Finally, Robert W. Baird cut their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.40.

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.