American Century Companies Inc. Grows Stake in Albany International Corp. (NYSE:AIN)

American Century Companies Inc. lifted its stake in Albany International Corp. (NYSE:AIN) by 3,380.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 849,379 shares of the textile maker’s stock after buying an additional 824,975 shares during the period. American Century Companies Inc. owned approximately 2.71% of Albany International worth $67,925,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. State Street Corp lifted its position in Albany International by 3.1% during 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Albany International by 1.2% during the third quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker’s stock worth $63,609,000 after purchasing an additional 8,356 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 purchasing an additional 36,274 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Albany International by 7.1% during 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 purchasing an additional 28,061 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Albany International by 3.1% during the 4th quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker’s stock worth $24,381,000 after buying an additional 9,091 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AIN shares. JPMorgan Chase & Co. decreased 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. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Truist Financial upped their target price on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Robert W. Baird decreased their price target on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Finally, Bank of America cut their price target on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a report on Tuesday. One investment 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Albany International Price Performance

Shares of AIN opened at $73.07 on Wednesday. Albany International Corp. has a 52 week low of $67.39 and a 52 week high of $96.49. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 22.83 and a beta of 1.37. The stock has a 50 day moving average of $78.02 and a 200-day moving average of $79.39.

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). The business had revenue of $286.91 million during the quarter, compared to analyst estimates of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. As a group, analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The business also recently announced 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. This represents a $1.08 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, March 21st. Albany International’s dividend payout ratio is presently 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.