Albany International Corp. (NYSE:AIN) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in Albany International Corp. (NYSE:AIN - Free Report) by 31.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 0.05% of Albany International worth $1,318,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after purchasing an additional 503 shares in the last quarter. Sterling Capital Management LLC grew its stake in Albany International by 735.6% during 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 last quarter. Vestcor Inc acquired a new position in Albany International during the 4th quarter valued at about $70,000. Covestor Ltd raised its stake in Albany International by 110.4% in the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker's stock valued at $71,000 after buying an additional 466 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Albany International in the fourth quarter valued at about $88,000. 97.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AIN has been the topic of a number of research analyst reports. Robert W. Baird dropped their price target on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Bank of America lowered their target price on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research note on Tuesday, March 25th. JPMorgan Chase & Co. upped their price target on shares of Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Truist Financial dropped their price objective on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.00.

Albany International Stock Performance

NYSE:AIN traded down $0.34 during midday trading on Friday, hitting $65.43. The company's stock had a trading volume of 172,527 shares, compared to its average volume of 210,310. Albany International Corp. has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The firm has a market cap of $1.98 billion, a P/E ratio of 20.45 and a beta of 1.37. The firm's 50 day moving average is $66.45 and its 200-day moving average is $75.30.

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

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.65%. Albany International's payout ratio is currently 43.55%.

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.