Charles Schwab Investment Management Inc. Grows Position in Albany International Corp. (NYSE:AIN)

Charles Schwab Investment Management Inc. increased its position in Albany International Corp. (NYSE:AIN - Free Report) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 426,036 shares of the textile maker's stock after acquiring an additional 28,061 shares during the period. Charles Schwab Investment Management Inc. owned about 1.36% of Albany International worth $34,070,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quarry LP boosted its stake in shares of Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker's stock worth $43,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after purchasing an additional 503 shares in the last quarter. KBC Group NV increased its position in Albany International by 28.9% in the third quarter. KBC Group NV now owns 1,058 shares of the textile maker's stock worth $94,000 after buying an additional 237 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Albany International by 16.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker's stock worth $184,000 after buying an additional 320 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Albany International in the fourth quarter worth about $226,000. Institutional investors own 97.37% of the company's stock.

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Albany International Price Performance

Shares of Albany International stock traded down $1.28 during trading on Thursday, reaching $73.43. 232,840 shares of the stock traded hands, compared to its average volume of 178,178. Albany International Corp. has a 52-week low of $67.39 and a 52-week high of $96.49. 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 business has a fifty day simple moving average of $78.64 and a two-hundred day simple moving average of $79.91. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 22.97 and a beta of 1.37.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate 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%. Sell-side analysts expect that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.47%. Albany International's dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AIN. StockNews.com lowered shares of Albany International from a "buy" rating to a "hold" rating in a report on Friday, February 28th. TD Cowen upgraded shares of Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. Truist Financial increased their price target on Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Robert W. Baird lowered their price objective on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. cut their target price on 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 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Albany International has an average rating of "Moderate Buy" and a consensus price target 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.