Park Avenue Securities LLC increased its holdings in Albany International Corp. (NYSE:AIN – Get Rating) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,654 shares of the textile maker’s stock after purchasing an additional 113 shares during the period. Park Avenue Securities LLC’s holdings in Albany International were worth $209,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. National Bank of Canada FI purchased a new stake in shares of Albany International during the 2nd quarter worth approximately $25,000. CWM LLC raised its holdings in shares of Albany International by 272.2% during the 2nd quarter. CWM LLC now owns 402 shares of the textile maker’s stock worth $32,000 after acquiring an additional 294 shares in the last quarter. Charter Oak Capital Management LLC purchased a new stake in shares of Albany International during the 2nd quarter worth approximately $44,000. EverSource Wealth Advisors LLC raised its holdings in shares of Albany International by 486.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 920 shares of the textile maker’s stock worth $72,000 after acquiring an additional 763 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Albany International during the 2nd quarter worth approximately $77,000. 99.94% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on AIN shares. Truist Financial upped their price objective on Albany International from $80.00 to $85.00 in a report on Monday, January 9th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Wednesday, October 26th. Finally, Robert W. Baird boosted their target price on Albany International from $95.00 to $101.00 and gave the company a “neutral” rating in a research report on Wednesday, October 26th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.50.
Albany International Stock Performance
Albany International (NYSE:AIN – Get Rating) last announced its quarterly earnings data on Monday, October 24th. The textile maker reported $1.15 EPS for the quarter, beating the consensus estimate of $0.84 by $0.31. The company had revenue of $260.56 million for the quarter, compared to the consensus estimate of $244.71 million. Albany International had a return on equity of 14.83% and a net margin of 10.56%. Sell-side analysts predict that Albany International Corp. will post 3.75 earnings per share for the current year.
Albany International Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Shareholders of record on Tuesday, December 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, December 23rd. This is an increase from Albany International’s previous quarterly dividend of $0.21. Albany International’s dividend payout ratio is 29.94%.
Albany International Profile
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.
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