Charles Schwab Investment Management Inc. Has $29.29 Million Holdings in Albany International Corporation $AIN

Charles Schwab Investment Management Inc. lessened its position in shares of Albany International Corporation (NYSE:AIN) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 424,202 shares of the textile maker’s stock after selling 1,834 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.37% of Albany International worth $29,287,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers grew its stake in shares of Albany International by 3.7% during the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker’s stock worth $298,000 after purchasing an additional 133 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of Albany International by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker’s stock worth $261,000 after purchasing an additional 207 shares during the period. Park Avenue Securities LLC grew its stake in shares of Albany International by 11.5% during the first quarter. Park Avenue Securities LLC now owns 3,320 shares of the textile maker’s stock worth $229,000 after purchasing an additional 342 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Albany International by 3.0% during the first quarter. DAVENPORT & Co LLC now owns 12,464 shares of the textile maker’s stock worth $860,000 after purchasing an additional 360 shares during the period. Finally, Stifel Financial Corp grew its stake in shares of Albany International by 1.2% during the fourth quarter. Stifel Financial Corp now owns 32,668 shares of the textile maker’s stock worth $2,612,000 after purchasing an additional 381 shares during the period. Institutional investors own 97.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AIN shares. Baird R W cut Albany International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Bank of America decreased their target price on Albany International from $75.00 to $65.00 and set an “underperform” rating for the company in a research note on Monday, June 2nd. Wall Street Zen raised Albany International from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Robert W. Baird lowered Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target on the stock. in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on Albany International from $65.00 to $77.00 and gave the company a “neutral” rating in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.40.

Albany International Price Performance

NYSE:AIN opened at $62.4960 on Wednesday. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $67.44 and its two-hundred day moving average price is $69.29. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 1.45 and a beta of 1.38. Albany International Corporation has a 12-month low of $50.60 and a 12-month high of $94.20.

Albany International (NYSE:AIN) last released its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.16). The business had revenue of $311.40 million during the quarter, compared to the consensus estimate of $306.06 million. Albany International had a net margin of 5.25% and a return on equity of 8.87%. Albany International’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. On average, analysts anticipate that Albany International Corporation will post 3.23 earnings per share for the current year.

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.