Albany International Corp. (NYSE:AIN) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its holdings in shares of Albany International Corp. (NYSE:AIN) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,683 shares of the textile maker’s stock after acquiring an additional 1,723 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Albany International were worth $3,253,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in Albany International by 24.0% in the third quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock worth $75,330,000 after purchasing an additional 163,934 shares during the period. Barclays PLC raised its position in shares of Albany International by 305.5% during the 3rd quarter. Barclays PLC now owns 53,227 shares of the textile maker’s stock worth $4,728,000 after buying an additional 40,101 shares in the last quarter. State Street Corp lifted its stake in shares of Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock worth $108,544,000 after acquiring an additional 36,944 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Albany International by 6.6% in the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock valued at $52,071,000 after acquiring an additional 36,274 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of Albany International by 16.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 252,233 shares of the textile maker’s stock valued at $20,171,000 after acquiring an additional 34,890 shares during the period. Institutional investors own 97.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AIN. TD Cowen upgraded Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Truist Financial upped their price objective on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird cut their price target on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research report 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 company’s stock. According to data from MarketBeat, Albany International presently has an average rating of “Moderate Buy” and an average price target of $83.00.

Albany International Stock Up 3.8 %

Shares of Albany International stock opened at $76.58 on Friday. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International Corp. has a 12-month low of $67.39 and a 12-month high of $97.60. The firm has a market capitalization of $2.40 billion, a PE ratio of 23.93 and a beta of 1.34. The stock’s fifty day moving average is $80.43 and its 200-day moving average is $81.50.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The firm had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. Equities analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, March 21st. Albany International’s payout ratio is 33.75%.

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.