8,075 Shares in Albany International Corp. (NYSE:AIN) Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in Albany International Corp. (NYSE:AIN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,075 shares of the textile maker’s stock, valued at approximately $646,000.

A number of other large investors have also added to or reduced their stakes in AIN. Quarry LP increased its stake in Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after purchasing an additional 503 shares during the last quarter. KBC Group NV increased its position in shares of Albany International by 28.9% during the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 237 shares during the last quarter. Central Pacific Bank Trust Division increased its position in shares of Albany International by 16.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after purchasing an additional 320 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Albany International during the 4th quarter valued at approximately $226,000. Institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIN. Robert W. Baird cut their target price on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. cut their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Truist Financial boosted their target price on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. TD Cowen upgraded Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Finally, StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Albany International Price Performance

Shares of AIN stock opened at $74.16 on Monday. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $96.49. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 23.17 and a beta of 1.37. The stock has a fifty day simple moving average of $79.04 and a two-hundred day simple moving average of $80.22. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last issued its earnings results 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). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $286.91 million during the quarter, compared to analysts’ expectations of $299.52 million. On average, analysts predict that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, March 21st. Albany International’s dividend payout ratio is 38.71%.

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.