Nisa Investment Advisors LLC Acquires 2,469 Shares of Albany International Corp. (NYSE:AIN)
Nisa Investment Advisors LLC raised its holdings in Albany International Corp. (NYSE:AIN – Get Rating ) by 100.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,931 shares of the textile maker’s stock after buying an additional 2,469 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Albany International were worth $413,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in Albany International in the second quarter valued at approximately $25,000. CWM LLC boosted its holdings in Albany International by 272.2% in the second quarter. CWM LLC now owns 402 shares of the textile maker’s stock worth $32,000 after buying an additional 294 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Albany International by 486.0% in the second quarter. EverSource Wealth Advisors LLC now owns 920 shares of the textile maker’s stock valued at $72,000 after buying an additional 763 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Albany International in the second quarter worth about $77,000. Finally, Eagle Bay Advisors LLC raised its stake in Albany International by 121.3% in the second quarter. Eagle Bay Advisors LLC now owns 1,193 shares of the textile maker’s stock worth $94,000 after buying an additional 654 shares during the period. 99.94% of the shares are currently owned by institutional investors.
The Wall Street analyst weighs in
AIN has been the subject of a number of research reports. Truist Financial lifted their price objective on Albany International from $80.00 to $85.00 in a research note on Monday, January 9th. Robert W. Baird lifted their price objective on Albany International from $95.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, October 26th. Finally, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $96.50.
Albany International shares fell 0.6%
Shares of NYSE:AIN opened at $112.12 on Wednesday. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 3.75 and a beta of 1.31. The company has a quick ratio of 3.56, a current ratio of 4.27, and a debt-to-equity ratio of 0.54. Albany International Corp. it has a 12-month low of $75.24 and a 12-month high of $115.39. The business’s 50-day moving average is $103.99 and its 200-day moving average is $95.03.
Albany International raises dividend
The business also recently announced a quarterly dividend, which was paid on Monday, January 9th. Investors of record on Tuesday, December 27th were given a dividend of $0.25 per share. This is an increase from Albany International’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, December 23rd. This represents an annual dividend of $1.00 and a dividend yield of 0.89%. Albany International’s payout ratio is currently 29.94%.
Albany International Profile (Get Rating)
Albany International Corp. engages in the processing of textiles and materials. It operates through the following segments: Automotive Coatings and Albany Engineering Composites. The Machinery Apparels segment supplies fabrics used in the manufacturing process to the pulp, corrugator, nonwovens, fiber cement, construction products, and leather and textile industries.
This instant news alert was created from scientific narrative technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Albany International, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s highest-rated and best-rated research analysts and the stocks they recommend to their clients every day. MarketBeat has identified five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Albany International wasn’t on the list.
While Albany International currently has a “Hold” rating among analysts, top analysts believe these five stocks are better buys.
View Five Shares Here