Charles Schwab Investment Management Inc. Acquires 3,920 Shares of Albany International Corp. (NYSE:AIN)

Charles Schwab Investment Management Inc. lifted its holdings in Albany International Corp. (NYSE:AIN) by 1.5% in the fourth quarter, HoldingsChannel reports. The fund owned 256,942 shares of the textile maker’s stock after buying an additional 3,920 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Albany International were worth $18,865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of Albany International by 5.9% in the 4th quarter. Victory Capital Management Inc. now owns 6,553 shares of the textile maker’s stock worth $481,000 after acquiring an additional 364 shares during the last quarter. First Bank & Trust raised its holdings in Albany International by 42.3% during the 4th quarter. First Bank & Trust now owns 1,498 shares of the textile maker’s stock valued at $110,000 after buying an additional 445 shares during the last quarter. Engineers Gate Manager LP raised its holdings in Albany International by 2.3% during the 3rd quarter. Engineers Gate Manager LP now owns 22,209 shares of the textile maker’s stock valued at $1,100,000 after buying an additional 498 shares during the last quarter. West Coast Financial LLC raised its holdings in Albany International by 0.7% during the 4th quarter. West Coast Financial LLC now owns 76,594 shares of the textile maker’s stock valued at $5,624,000 after buying an additional 503 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Albany International by 2.8% during the 4th quarter. HighTower Advisors LLC now owns 19,479 shares of the textile maker’s stock valued at $1,425,000 after buying an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.

In related news, SVP Robert Alan Hansen sold 1,000 shares of the stock in a transaction dated Tuesday, February 23rd. The shares were sold at an average price of $82.64, for a total transaction of $82,640.00. Also, VP David M. Pawlick sold 2,000 shares of the stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $79.29, for a total transaction of $158,580.00. Following the sale, the vice president now directly owns 2,314 shares in the company, valued at $183,477.06. The disclosure for this sale can be found here. Insiders sold a total of 3,600 shares of company stock worth $289,382 over the last ninety days. Insiders own 5.73% of the company’s stock.

A number of research firms recently commented on AIN. Zacks Investment Research upgraded shares of Albany International from a “strong sell” rating to a “hold” rating in a report on Thursday, March 4th. Robert W. Baird lowered shares of Albany International from an “outperform” rating to a “neutral” rating and upped their price target for the company from $70.00 to $79.00 in a report on Monday, January 11th. Finally, Bank of America reissued a “neutral” rating and set a $90.00 price objective on shares of Albany International in a research report on Monday, March 15th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $77.17.

NYSE:AIN opened at $84.76 on Thursday. The firm’s 50-day moving average price is $83.65 and its 200-day moving average price is $70.17. The company has a market capitalization of $2.74 billion, a PE ratio of 27.43 and a beta of 1.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.80 and a quick ratio of 3.17. Albany International Corp. has a 1-year low of $43.16 and a 1-year high of $89.80.

Albany International (NYSE:AIN) last released its earnings results on Tuesday, February 9th. The textile maker reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.23. The firm had revenue of $226.86 million for the quarter, compared to the consensus estimate of $211.88 million. Albany International had a net margin of 10.76% and a return on equity of 17.39%. Equities analysts anticipate that Albany International Corp. will post 3.45 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 8th. Stockholders of record on Friday, March 19th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, March 18th. Albany International’s dividend payout ratio is presently 19.46%.

Albany International Profile

Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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 manufacturing papers, paperboards, tissues, and towels.

See Also: Balanced Fund

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Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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