BNP Paribas Financial Markets Increases Position in Albany International Corp. (NYSE:AIN)

BNP Paribas Financial Markets grew its stake in shares of Albany International Corp. (NYSE:AIN - Free Report) by 31.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,475 shares of the textile maker's stock after acquiring an additional 3,903 shares during the period. BNP Paribas Financial Markets owned about 0.05% of Albany International worth $1,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after acquiring an additional 503 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock worth $60,000 after buying an additional 662 shares during the period. Vestcor Inc purchased a new stake in Albany International in the 4th quarter worth approximately $70,000. Covestor Ltd boosted its position in shares of Albany International by 110.4% during the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker's stock valued at $71,000 after purchasing an additional 466 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Albany International during the fourth quarter valued at approximately $88,000. Institutional investors own 97.37% of the company's stock.

Wall Street Analysts Forecast Growth

AIN has been the subject of a number of recent research reports. StockNews.com upgraded Albany International from a "hold" rating to a "buy" rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Friday. Robert W. Baird dropped 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. Bank of America decreased their price objective on Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a research report on Tuesday, March 25th. Finally, Truist Financial reduced their price target on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $81.00.

Albany International Stock Performance

Shares of AIN stock opened at $69.42 on Tuesday. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 21.69 and a beta of 1.37. The company's 50 day moving average is $67.04 and its 200 day moving average is $75.58. Albany International Corp. has a 52-week low of $57.71 and a 52-week high of $95.47.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.15. The business had revenue of $288.77 million for the quarter, compared to analyst estimates of $300.74 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share. On average, sell-side analysts anticipate that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 6th will be given a $0.27 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a yield of 1.56%. Albany International's dividend payout ratio is currently 43.55%.

Albany International Company 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.

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