Cibc World Markets Corp Invests $234,000 in Albany International Corp. (NYSE:AIN)

Cibc World Markets Corp bought a new stake in Albany International Corp. (NYSE:AIN) during the fourth quarter, Holdings Channel.com reports. The fund bought 2,920 shares of the textile maker’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Investment Consultants LLC grew its holdings in shares of Albany International by 3.3% during the fourth quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock worth $386,000 after purchasing an additional 155 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in 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 worth $184,000 after buying an additional 320 shares during the last quarter. Inspire Investing LLC increased its position in Albany International by 7.2% during the fourth quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker’s stock worth $400,000 after buying an additional 334 shares during the period. HighTower Advisors LLC lifted its stake in Albany International by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker’s stock valued at $1,372,000 after buying an additional 342 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Albany International by 11.2% in the fourth quarter. Blue Trust Inc. now owns 3,610 shares of the textile maker’s stock valued at $321,000 after acquiring an additional 365 shares during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Price Performance

Shares of AIN opened at $73.07 on Wednesday. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average is $78.02 and its two-hundred day moving average is $79.39. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $96.49. The firm has a market capitalization of $2.26 billion, a PE ratio of 22.83 and a beta of 1.37.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The business had revenue of $286.91 million for the quarter, compared to analyst estimates of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. Research analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Friday, March 21st. Albany International’s dividend payout ratio (DPR) is 38.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AIN. Robert W. Baird cut their target price on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Truist Financial lifted their price objective on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Bank of America decreased their target price on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research note on Tuesday. TD Cowen upgraded Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.00.

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.