New York State Teachers Retirement System Cuts Stock Position in Albany International Corp. (NYSE:AIN)

New York State Teachers Retirement System lessened its holdings in shares of Albany International Corp. (NYSE:AIN) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,375 shares of the textile maker’s stock after selling 600 shares during the quarter. New York State Teachers Retirement System owned about 0.16% of Albany International worth $4,476,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AIN. Assenagon Asset Management S.A. raised its stake in shares of Albany International by 60.5% in the third quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock valued at $14,335,000 after acquiring an additional 60,812 shares in the last quarter. Blue Trust Inc. increased its holdings in Albany International by 20.2% during the 3rd quarter. Blue Trust Inc. now owns 3,245 shares of the textile maker’s stock worth $274,000 after purchasing an additional 545 shares during the period. Creative Planning raised its position in Albany International by 18.4% in the 3rd quarter. Creative Planning now owns 5,941 shares of the textile maker’s stock valued at $528,000 after purchasing an additional 923 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Albany International by 12.5% in the 3rd quarter. Inspire Investing LLC now owns 4,670 shares of the textile maker’s stock valued at $415,000 after buying an additional 520 shares during the period. Finally, Diversified Trust Co grew its position in shares of Albany International by 3.6% during the third quarter. Diversified Trust Co now owns 10,150 shares of the textile maker’s stock worth $902,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Insider Activity at Albany International

In other Albany International news, SVP Robert Alan Hansen bought 1,050 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average price of $71.26 per share, for a total transaction of $74,823.00. Following the completion of the purchase, the senior vice president now owns 8,387 shares of the company’s stock, valued at approximately $597,657.62. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Joseph M. Gaug purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average price of $71.24 per share, for a total transaction of $71,240.00. Following the completion of the purchase, the vice president now directly owns 6,811 shares of the company’s stock, valued at $485,215.64. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert Alan Hansen acquired 1,050 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of $71.26 per share, for a total transaction of $74,823.00. Following the completion of the transaction, the senior vice president now owns 8,387 shares in the company, valued at $597,657.62. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 3,450 shares of company stock worth $245,813 in the last 90 days. 0.92% of the stock is owned by insiders.

Albany International Price Performance

Shares of NYSE:AIN opened at $80.13 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $99.41. The firm has a market capitalization of $2.50 billion, a P/E ratio of 25.04, a P/E/G ratio of 2.28 and a beta of 1.29. The company’s fifty day moving average price is $80.26 and its 200 day moving average price is $84.91.

Albany International (NYSE:AIN) last announced its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. The firm had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. As a group, sell-side analysts predict that Albany International Corp. will post 3.16 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were issued a $0.26 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.30%. Albany International’s payout ratio is 32.50%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AIN. TD Cowen reduced their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Truist Financial reduced their price objective on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $88.00.

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.