Albany International Corp. (NYSE:AIN) Stock Position Lessened by Wasatch Advisors LP

Wasatch Advisors LP reduced its stake in shares of Albany International Corp. (NYSE:AINFree Report) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 263,349 shares of the textile maker’s stock after selling 22,794 shares during the quarter. Wasatch Advisors LP owned about 0.84% of Albany International worth $25,866,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Earnest Partners LLC raised its position in shares of Albany International by 2.0% during the 3rd quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock worth $201,512,000 after buying an additional 45,158 shares in the last quarter. Norges Bank acquired a new stake in shares of Albany International in the fourth quarter valued at $33,273,000. Swiss National Bank boosted its stake in Albany International by 1.0% during the third quarter. Swiss National Bank now owns 68,600 shares of the textile maker’s stock valued at $5,919,000 after buying an additional 700 shares in the last quarter. Sei Investments Co. raised its position in Albany International by 12.7% in the third quarter. Sei Investments Co. now owns 488,258 shares of the textile maker’s stock worth $42,127,000 after acquiring an additional 55,021 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Albany International by 12.1% during the third quarter. Wellington Management Group LLP now owns 468,190 shares of the textile maker’s stock valued at $40,395,000 after purchasing an additional 50,653 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Insiders Place Their Bets

In other Albany International news, CFO Robert D. Starr purchased 1,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $84.44 per share, for a total transaction of $84,440.00. Following the completion of the purchase, the chief financial officer now directly owns 2,610 shares of the company’s stock, valued at $220,388.40. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Robert D. Starr bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $84.44 per share, for a total transaction of $84,440.00. Following the transaction, the chief financial officer now directly owns 2,610 shares of the company’s stock, valued at $220,388.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gunnar Kleveland acquired 1,250 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $84.68 per share, with a total value of $105,850.00. Following the completion of the purchase, the chief executive officer now directly owns 6,884 shares of the company’s stock, valued at $582,937.12. The disclosure for this purchase can be found here. Corporate insiders own 0.92% of the company’s stock.

Albany International Stock Performance

AIN traded down $0.77 during midday trading on Tuesday, reaching $83.60. The company’s stock had a trading volume of 102,754 shares, compared to its average volume of 101,623. Albany International Corp. has a twelve month low of $78.20 and a twelve month high of $99.41. The stock has a market cap of $2.61 billion, a P/E ratio of 23.48, a PEG ratio of 2.48 and a beta of 1.31. The company has a fifty day simple moving average of $87.88 and a 200 day simple moving average of $90.52. The company has a current ratio of 3.99, a quick ratio of 3.20 and a debt-to-equity ratio of 0.45.

Albany International (NYSE:AINGet Free Report) last announced its earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The business had revenue of $313.33 million for the quarter, compared to analyst estimates of $313.41 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Albany International’s revenue was up 16.4% compared to the same quarter last year. Research analysts expect that Albany International Corp. will post 3.8 earnings per share for the current year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, June 7th. This represents a $1.04 annualized dividend and a yield of 1.24%. Albany International’s dividend payout ratio is 29.21%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AIN. TD Cowen cut their price objective on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Bank of America dropped their price target on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. Truist Financial dropped their target price on Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.00.

Read Our Latest Research Report on Albany International

Albany International Company Profile

(Free Report)

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

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