Mirae Asset Global Investments Co. Ltd. Boosts Position in Albany International Corp. (NYSE:AIN)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Albany International Corp. (NYSE:AIN) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,642 shares of the textile maker’s stock after purchasing an additional 702 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Albany International were worth $1,438,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AIN. Orion Capital Management LLC purchased a new stake in Albany International during the third quarter worth approximately $29,000. Bessemer Group Inc. increased its position in Albany International by 244.8% during the fourth quarter. Bessemer Group Inc. now owns 462 shares of the textile maker’s stock worth $45,000 after buying an additional 328 shares during the period. Lazard Asset Management LLC acquired a new position in Albany International during the fourth quarter worth approximately $54,000. Adirondack Trust Co. acquired a new position in Albany International during the third quarter worth approximately $86,000. Finally, Captrust Financial Advisors increased its position in Albany International by 89.0% during the first quarter. Captrust Financial Advisors now owns 1,380 shares of the textile maker’s stock worth $117,000 after buying an additional 650 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Trading Up 0.5 %

NYSE:AIN opened at $88.23 on Monday. The firm has a market cap of $2.75 billion, a P/E ratio of 24.85, a PEG ratio of 2.29 and a beta of 1.25. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $91.95 and its 200-day simple moving average is $89.66. Albany International Corp. has a 12-month low of $78.20 and a 12-month high of $99.41.

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

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.18%. Albany International’s dividend payout ratio (DPR) is presently 29.30%.

Analyst Ratings Changes

AIN has been the topic of several research analyst reports. Truist Financial lifted their price target on Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Bank of America reaffirmed an “underperform” rating and set a $95.00 price target (down previously from $105.00) on shares of Albany International in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.