Vestcor Inc Takes Position in Albany International Corp. (NYSE:AIN)

Vestcor Inc purchased a new stake in Albany International Corp. (NYSE:AIN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 876 shares of the textile maker’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Investment Consultants LLC raised its stake in shares of Albany International by 3.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock valued at $386,000 after acquiring an additional 155 shares during the period. KBC Group NV raised its stake in shares of Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 237 shares during the period. Central Pacific Bank Trust Division raised its stake in shares of Albany International by 16.1% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after acquiring an additional 320 shares during the period. Inspire Investing LLC raised its stake in shares of Albany International by 7.2% in the 4th quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker’s stock valued at $400,000 after acquiring an additional 334 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of Albany International by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker’s stock valued at $1,372,000 after acquiring an additional 342 shares during the period. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Trading Down 0.1 %

NYSE AIN opened at $73.90 on Wednesday. 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 52 week low of $67.39 and a 52 week high of $96.49. The stock has a market capitalization of $2.28 billion, a PE ratio of 23.09 and a beta of 1.37. The firm has a 50 day moving average of $78.77 and a two-hundred day moving average of $79.95.

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

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, March 21st. Albany International’s payout ratio is 38.71%.

Wall Street Analysts Forecast Growth

AIN has been the topic of several recent research reports. Robert W. Baird cut their target price on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. TD Cowen raised shares of Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. cut their target price 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. Finally, Truist Financial upped their target price on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Albany International presently has an average rating of “Moderate Buy” and an average target price of $83.00.

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.