Albany International Corp. (NYSE:AIN) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lessened its position in Albany International Corp. (NYSE:AIN) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,407 shares of the textile maker’s stock after selling 1,942 shares during the period. Wasatch Advisors LP owned approximately 0.84% of Albany International worth $24,444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AIN. Earnest Partners LLC boosted 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 valued at $201,512,000 after purchasing an additional 45,158 shares in the last quarter. Norges Bank bought a new position in shares of Albany International during the 4th quarter valued at about $33,273,000. Sei Investments Co. boosted its position in shares of Albany International by 12.7% during the 3rd quarter. Sei Investments Co. now owns 488,258 shares of the textile maker’s stock valued at $42,127,000 after purchasing an additional 55,021 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Albany International by 12.1% during the 3rd 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 in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Albany International by 4.9% during the 3rd quarter. Northern Trust Corp now owns 440,156 shares of the textile maker’s stock valued at $37,977,000 after purchasing an additional 20,553 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Insider Transactions at Albany International

In related news, CEO Gunnar Kleveland bought 1,250 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $84.68 per share, for a total transaction of $105,850.00. Following the transaction, the chief executive officer now owns 6,884 shares of the company’s stock, valued at $582,937.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Robert D. Starr bought 1,000 shares of the business’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 purchase, the chief financial officer now owns 2,610 shares of the company’s stock, valued at approximately $220,388.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gunnar Kleveland bought 1,250 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $84.68 per share, for a total transaction of $105,850.00. Following the purchase, the chief executive officer now directly owns 6,884 shares in the company, valued at approximately $582,937.12. The disclosure for this purchase can be found here. Corporate insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AIN. Bank of America reduced their price objective on shares of Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a research note on Wednesday, May 29th. JPMorgan Chase & Co. reduced their price objective on shares of Albany International from $98.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Truist Financial reduced their price objective on shares of Albany International from $121.00 to $104.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, TD Cowen reduced their price target on shares of Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

Albany International Stock Up 0.5 %

Shares of NYSE AIN opened at $82.76 on Wednesday. The stock has a market cap of $2.58 billion, a PE ratio of 23.25, a PEG ratio of 2.48 and a beta of 1.27. The business has a fifty day moving average of $86.44 and a two-hundred day moving average of $89.99. Albany International Corp. has a 52-week low of $78.20 and a 52-week high of $99.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.20 and a current ratio of 3.99.

Albany International (NYSE:AIN) last released its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The business had revenue of $313.33 million during the quarter, compared to analysts’ expectations of $313.41 million. During the same period in the previous year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities research analysts expect that Albany International Corp. will post 3.8 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 7th will be given a $0.26 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.04 dividend on an annualized basis and a yield of 1.26%. Albany International’s payout ratio is 29.21%.

Albany International Company Profile

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.