Hsbc Holdings PLC Has $316,000 Stock Holdings in Albany International Corp. (NYSE:AIN)

Hsbc Holdings PLC reduced its position in Albany International Corp. (NYSE:AIN) by 10.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,948 shares of the textile maker’s stock after selling 473 shares during the period. Hsbc Holdings PLC’s holdings in Albany International were worth $316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Stifel Financial Corp increased its position in Albany International by 1.2% in the fourth quarter. Stifel Financial Corp now owns 32,668 shares of the textile maker’s stock worth $2,612,000 after purchasing an additional 381 shares during the period. State of Tennessee Department of Treasury grew its position in shares of Albany International by 8.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 17,852 shares of the textile maker’s stock worth $1,428,000 after buying an additional 1,349 shares during the period. MetLife Investment Management LLC raised its stake in shares of Albany International by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 19,065 shares of the textile maker’s stock worth $1,525,000 after buying an additional 1,045 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Albany International by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker’s stock valued at $88,217,000 after buying an additional 9,226 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Albany International by 10.5% in the fourth quarter. First Trust Advisors LP now owns 18,658 shares of the textile maker’s stock valued at $1,492,000 after buying an additional 1,768 shares during the period. Institutional investors own 97.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America dropped their price objective on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a report on Tuesday, March 25th. Truist Financial reduced their target price on Albany International from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Robert W. Baird lowered their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.40.

Albany International Stock Up 0.6 %

NYSE:AIN opened at $65.62 on Friday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 20.51 and a beta of 1.37. 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 has a 50-day moving average price of $67.62 and a two-hundred day moving average price of $75.62. Albany International Corp. has a 1 year low of $57.71 and a 1 year high of $95.47.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.15. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $288.77 million during the quarter, compared to analysts’ expectations of $300.74 million. During the same period in the prior year, the business earned $0.90 EPS. Albany International’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, equities analysts expect that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.65%. Albany International’s dividend payout ratio is currently 43.55%.

About Albany International

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.