Charles Schwab Investment Management Inc. Increases Stock Holdings in Albany International Corp. (NYSE:AIN)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Albany International Corp. (NYSE:AIN) by 3.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 397,975 shares of the textile maker’s stock after buying an additional 15,120 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Albany International were worth $35,360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Atria Investments Inc acquired a new stake in Albany International in the 1st quarter valued at about $1,570,000. GAMMA Investing LLC increased its stake in shares of Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after buying an additional 145 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Albany International by 18.6% in the second quarter. Harbor Capital Advisors Inc. now owns 14,094 shares of the textile maker’s stock valued at $1,190,000 after acquiring an additional 2,206 shares in the last quarter. Hilltop National Bank lifted its stake in Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after acquiring an additional 134 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in Albany International by 10.0% in the second quarter. Linden Thomas Advisory Services LLC now owns 5,011 shares of the textile maker’s stock worth $423,000 after acquiring an additional 455 shares during the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Albany International Stock Performance

Shares of AIN stock opened at $85.15 on Tuesday. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $99.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 26.61 and a beta of 1.29. The stock’s 50-day moving average is $78.51 and its two-hundred day moving average is $84.32.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.35. The business had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 earnings per share. Analysts predict that Albany International Corp. will post 3.23 earnings per share for the current year.

Insiders Place Their Bets

In other Albany International news, SVP Robert Alan Hansen bought 1,050 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average cost of $71.26 per share, with a total value of $74,823.00. Following the purchase, the senior vice president now owns 8,387 shares in the company, valued at approximately $597,657.62. This represents a 14.31 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gunnar Kleveland purchased 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the chief executive officer now owns 8,284 shares of the company’s stock, valued at approximately $590,235. This represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 3,450 shares of company stock valued at $245,813. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Bank of America reduced their price objective on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. Truist Financial cut their price target on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. TD Cowen dropped their price objective on Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $85.50.

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.