Beverly Hills Private Wealth LLC Has $310,000 Stake in Albany International Corp. (NYSE:AIN)

Beverly Hills Private Wealth LLC decreased its holdings in Albany International Corp. (NYSE:AIN) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,155 shares of the textile maker’s stock after selling 238 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Albany International were worth $310,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AIN. Morgan Stanley increased its holdings in shares of Albany International by 74.2% in the 3rd quarter. Morgan Stanley now owns 890,785 shares of the textile maker’s stock valued at $76,857,000 after purchasing an additional 379,367 shares during the period. Norges Bank bought a new stake in shares of Albany International in the 4th quarter valued at approximately $32,911,000. Citadel Advisors LLC grew its stake in shares of Albany International by 189.5% in the 2nd quarter. Citadel Advisors LLC now owns 206,945 shares of the textile maker’s stock valued at $19,304,000 after buying an additional 135,472 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Albany International in the 4th quarter valued at approximately $12,803,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Albany International by 81.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 284,006 shares of the textile maker’s stock valued at $24,504,000 after buying an additional 127,295 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Stock Down 0.1 %

Shares of Albany International stock opened at $89.48 on Tuesday. The stock has a market capitalization of $2.79 billion, a P/E ratio of 25.21, a PEG ratio of 2.32 and a beta of 1.25. The company has a quick ratio of 2.85, a current ratio of 3.53 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $92.03 and a two-hundred day moving average price of $89.58. Albany International Corp. has a 12-month low of $78.20 and a 12-month high of $99.41.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, February 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.38. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The firm had revenue of $323.60 million during the quarter, compared to analysts’ expectations of $298.17 million. During the same quarter in the prior year, the business earned $0.75 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. Equities analysts expect that Albany International Corp. will post 3.9 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 1.16%. Albany International’s dividend payout ratio is 29.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AIN shares. Bank of America reissued an “underperform” rating and issued a $95.00 price target (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Truist Financial boosted their price target on Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.50.

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.