By otakuyassine3@gmail.com 
Integrated Investment Consultants LLC increased its holdings in shares of Albany International Corp. (NYSE:AIN – Free Report) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,825 shares of the textile maker’s stock after purchasing an additional 155 shares during the period. Integrated Investment Consultants LLC’s holdings in Albany International were worth $386,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in AIN. Victory Capital Management Inc. grew its stake in Albany International by 24.0% during the third quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock worth $75,330,000 after purchasing an additional 163,934 shares during the period. Assenagon Asset Management S.A. grew its stake in Albany International by 60.5% during the third quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock worth $14,335,000 after purchasing an additional 60,812 shares during the period. Earnest Partners LLC grew its stake in Albany International by 2.1% during the second quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock worth $218,961,000 after purchasing an additional 53,743 shares during the period. Dimensional Fund Advisors LP grew its stake in Albany International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after purchasing an additional 52,909 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in Albany International by 176.9% during the second quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock worth $5,650,000 after purchasing an additional 42,740 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.
Analysts Set New Price Targets
AIN has been the subject of a number of research reports. Bank of America reduced their price objective on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. JPMorgan Chase & Co. reduced their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday. TD Cowen raised Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. 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. Finally, StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Albany International presently has an average rating of “Hold” and a consensus price target of $80.75.
Get Our Latest Analysis on AIN
Albany International Stock Up 0.1 %
AIN stock opened at $81.36 on Friday. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $98.73. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average is $81.40 and its 200-day moving average is $83.07. The firm has a market capitalization of $2.55 billion, a PE ratio of 25.42 and a beta of 1.35.
Albany International (NYSE:AIN – Get Free Report) last posted its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. During the same quarter last year, the company earned $1.02 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts expect that Albany International Corp. will post 3.24 EPS for the current fiscal year.
Albany International Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were issued a dividend of $0.27 per share. This is a positive change from Albany International’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, December 17th. Albany International’s dividend payout ratio (DPR) is 33.75%.
Insider Buying and Selling
In other Albany International news, SVP Robert Alan Hansen purchased 1,050 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $71.26 per share, for a total transaction of $74,823.00. Following the completion of the acquisition, the senior vice president now owns 8,387 shares of the company’s stock, valued at $597,657.62. The trade was a 14.31 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gunnar Kleveland bought 1,400 shares of the stock in a transaction on Tuesday, November 5th. The stock was purchased at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the chief executive officer now owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 3,450 shares of company stock worth $245,813. 0.92% of the stock is owned by company insiders.
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.
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