Albany International Corp. (NYSE:AIN) Stake Increased by ETRADE Capital Management LLC

ETRADE Capital Management LLC increased its stake in Albany International Corp. (NYSE:AIN) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,858 shares of the textile maker’s stock after buying an additional 539 shares during the period. ETRADE Capital Management LLC owned about 0.06% of Albany International worth $892,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AIN. Norges Bank bought a new stake in shares of Albany International in the fourth quarter worth $25,680,000. TimesSquare Capital Management LLC boosted its holdings in Albany International by 22.3% in the first quarter. TimesSquare Capital Management LLC now owns 924,576 shares of the textile maker’s stock worth $43,760,000 after purchasing an additional 168,491 shares during the period. Victory Capital Management Inc. boosted its holdings in Albany International by 31.8% in the fourth quarter. Victory Capital Management Inc. now owns 680,510 shares of the textile maker’s stock worth $47,479,000 after purchasing an additional 164,154 shares during the period. West Coast Financial LLC acquired a new position in Albany International in the first quarter worth $5,558,000. Finally, Man Group plc boosted its holdings in Albany International by 535.4% in the fourth quarter. Man Group plc now owns 125,169 shares of the textile maker’s stock worth $9,502,000 after purchasing an additional 105,469 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Shares of AIN opened at $55.46 on Friday. Albany International Corp. has a 1 year low of $30.46 and a 1 year high of $92.04. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 15.98 and a beta of 1.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.13 and a current ratio of 3.76. The firm has a fifty day moving average of $48.82 and a 200-day moving average of $66.61.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Wednesday, April 29th. The textile maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.17. Albany International had a net margin of 10.81% and a return on equity of 19.36%. The company had revenue of $235.76 million during the quarter, compared to the consensus estimate of $224.25 million. Analysts predict that Albany International Corp. will post 2.74 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 5th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Thursday, June 4th. Albany International’s dividend payout ratio is currently 18.49%.

AIN has been the subject of a number of research reports. Cowen reaffirmed a “hold” rating and issued a $41.00 price objective on shares of Albany International in a report on Wednesday, April 29th. Robert W. Baird raised shares of Albany International from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Friday, March 27th. TheStreet downgraded shares of Albany International from a “b” rating to a “c+” rating in a report on Tuesday, March 17th. Zacks Investment Research raised shares of Albany International from a “sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Bank of America started coverage on shares of Albany International in a report on Wednesday, April 15th. They set a “buy” rating and a $65.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $72.00.

Albany International Profile

Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.

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Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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