Raymond James Financial Inc. Acquires Shares of 241,958 Albany International Corp. (NYSE:AIN)

Raymond James Financial Inc. purchased a new stake in Albany International Corp. (NYSE:AIN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 241,958 shares of the textile maker's stock, valued at approximately $19,349,000. Raymond James Financial Inc. owned approximately 0.77% of Albany International as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker's stock valued at $108,544,000 after acquiring an additional 36,944 shares in the last quarter. Geode Capital Management LLC raised its holdings in Albany International by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker's stock valued at $63,609,000 after acquiring an additional 8,356 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Albany International by 6.6% in the 3rd 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. Charles Schwab Investment Management Inc. raised its holdings in Albany International by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 426,036 shares of the textile maker's stock valued at $34,070,000 after acquiring an additional 28,061 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Albany International by 3.1% in the 4th quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker's stock valued at $24,381,000 after acquiring an additional 9,091 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have commented on AIN shares. TD Cowen raised Albany International to a "strong-buy" rating in a report on Thursday, December 19th. StockNews.com cut Albany International from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Robert W. Baird dropped their target price on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Truist Financial increased their target price on Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. dropped their target price on Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $83.00.

Albany International Price Performance

NYSE AIN traded down $1.27 during trading hours on Thursday, reaching $73.44. 325,699 shares of the company's stock were exchanged, compared to its average volume of 178,444. The stock has a market cap of $2.27 billion, a PE ratio of 22.95 and a beta of 1.37. Albany International Corp. has a one year low of $67.39 and a one year high of $96.49. The firm has a fifty day moving average of $78.64 and a 200-day moving average of $79.91. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings results 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 business had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. On average, equities research analysts predict that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

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 $0.27 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.47%. Albany International's payout ratio is 38.71%.

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.