Bessemer Group Inc. Has $1.36 Million Stake in Albany International Corp. (NYSE:AIN)

Bessemer Group Inc. increased its position in Albany International Corp. (NYSE:AIN) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,014 shares of the textile maker’s stock after buying an additional 892 shares during the period. Bessemer Group Inc.’s holdings in Albany International were worth $1,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIN. Smartleaf Asset Management LLC grew its position in Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after acquiring an additional 503 shares in the last quarter. Vestcor Inc acquired a new position in Albany International during the fourth quarter worth $70,000. Meeder Asset Management Inc. bought a new position in Albany International during the fourth quarter valued at about $88,000. KBC Group NV lifted its position in shares of Albany International by 41.3% in the fourth quarter. KBC Group NV now owns 1,495 shares of the textile maker’s stock worth $120,000 after buying an additional 437 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Albany International by 16.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock worth $184,000 after acquiring an additional 320 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Analyst Ratings Changes

AIN has been the topic of a number of recent analyst reports. Truist Financial raised their price objective on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Bank of America reduced their price objective on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research note on Tuesday, March 25th. JPMorgan Chase & Co. lowered 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. Robert W. Baird cut their target price 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, StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Albany International Price Performance

NYSE:AIN opened at $65.24 on Tuesday. 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 stock has a market cap of $2.02 billion, a P/E ratio of 20.39 and a beta of 1.29. The company has a fifty day moving average price of $73.28 and a 200 day moving average price of $77.20. Albany International Corp. has a one year low of $57.71 and a one year high of $95.47.

Albany International (NYSE:AIN) last released its 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). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. 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 was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, March 21st. Albany International’s dividend payout ratio is presently 38.71%.

About Albany International

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.