Comerica Bank Has $2.12 Million Stock Holdings in Albany International Corp. (NYSE:AIN)

Comerica Bank decreased its holdings in shares of Albany International Corp. (NYSE:AINGet Rating) by 11.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,129 shares of the textile maker’s stock after selling 3,165 shares during the period. Comerica Bank’s holdings in Albany International were worth $2,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIN. Citigroup Inc. lifted its stake in Albany International by 7.1% during the first quarter. Citigroup Inc. now owns 33,541 shares of the textile maker’s stock worth $2,828,000 after purchasing an additional 2,229 shares during the period. Bank of Montreal Can lifted its stake in Albany International by 37.7% during the first quarter. Bank of Montreal Can now owns 13,075 shares of the textile maker’s stock worth $1,125,000 after purchasing an additional 3,578 shares during the period. MetLife Investment Management LLC lifted its stake in Albany International by 56.1% during the first quarter. MetLife Investment Management LLC now owns 16,503 shares of the textile maker’s stock worth $1,392,000 after purchasing an additional 5,928 shares during the period. Rhumbline Advisers lifted its stake in Albany International by 0.6% during the first quarter. Rhumbline Advisers now owns 93,759 shares of the textile maker’s stock worth $7,906,000 after purchasing an additional 529 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Albany International by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,915 shares of the textile maker’s stock worth $2,354,000 after purchasing an additional 3,442 shares during the period. Institutional investors own 99.94% of the company’s stock.

Albany International Stock Performance

NYSE:AIN opened at $104.67 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.56 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $101.73 and a 200-day moving average of $92.06. Albany International Corp. has a 1 year low of $75.24 and a 1 year high of $109.99. The stock has a market capitalization of $3.26 billion, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 3.61 and a beta of 1.28.

Albany International (NYSE:AINGet Rating) last posted its quarterly earnings data on Monday, October 24th. The textile maker reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.31. Albany International had a net margin of 10.56% and a return on equity of 14.83%. The firm had revenue of $260.56 million during the quarter, compared to analysts’ expectations of $244.71 million. As a group, sell-side analysts anticipate that Albany International Corp. will post 3.75 EPS for the current fiscal year.

Albany International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Investors of record on Tuesday, December 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, December 23rd. This is a boost from Albany International’s previous quarterly dividend of $0.21. Albany International’s payout ratio is 29.94%.

Wall Street Analyst Weigh In

AIN has been the subject of a number of analyst reports. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Robert W. Baird lifted their target price on shares of Albany International from $95.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, October 26th. Finally, Truist Financial lifted their target price on shares of Albany International from $80.00 to $85.00 in a research note on Monday, January 9th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $96.50.

Albany International Profile

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Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, and towels.

Further Reading

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

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