Centiva Capital LP Invests $308,000 in Albany International Corp. (NYSE:AIN)

Centiva Capital LP bought a new position in Albany International Corp. (NYSE:AIN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,466 shares of the textile maker’s stock, valued at approximately $308,000.

Several other institutional investors have also recently made changes to their positions in AIN. SG Americas Securities LLC lifted its holdings in shares of Albany International by 1,864.6% in the 2nd quarter. SG Americas Securities LLC now owns 21,493 shares of the textile maker’s stock worth $1,815,000 after acquiring an additional 20,399 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Albany International by 12.0% in the 2nd quarter. Diversified Trust Co now owns 9,800 shares of the textile maker’s stock worth $828,000 after acquiring an additional 1,050 shares during the last quarter. AlphaMark Advisors LLC purchased a new position in Albany International in the 2nd quarter worth about $317,000. Assenagon Asset Management S.A. increased its stake in Albany International by 29.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker’s stock worth $8,490,000 after buying an additional 23,018 shares during the period. Finally, Blue Trust Inc. increased its stake in Albany International by 38.6% in the 2nd quarter. Blue Trust Inc. now owns 2,700 shares of the textile maker’s stock worth $252,000 after buying an additional 752 shares during the period. Institutional investors own 97.37% of the company’s stock.

Wall Street Analysts Forecast Growth

AIN has been the topic of several recent analyst reports. Truist Financial reduced their price target on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. TD Cowen reduced their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Finally, Bank of America reduced their price target on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $85.50.

Albany International Trading Up 0.7 %

NYSE AIN opened at $82.60 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 25.81 and a beta of 1.34. The company’s 50-day simple moving average is $77.84 and its two-hundred day simple moving average is $83.98. Albany International Corp. has a one year low of $67.39 and a one year high of $99.41.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $298.40 million for the quarter, compared to the consensus estimate of $304.51 million. During the same quarter last year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts forecast that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th will be issued a $0.27 dividend. This is a boost from Albany International’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, December 17th. Albany International’s dividend payout ratio (DPR) is currently 33.75%.

Insider Activity

In other news, SVP Robert Alan Hansen purchased 1,050 shares of the stock in a transaction dated 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 acquisition, the senior vice president now owns 8,387 shares of the company’s stock, valued at approximately $597,657.62. This represents a 14.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gunnar Kleveland bought 1,400 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average price of $71.25 per share, with a total value of $99,750.00. Following the completion of the purchase, the chief executive officer now directly owns 8,284 shares in the company, valued at $590,235. This represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 3,450 shares of company stock worth $245,813. Corporate insiders own 0.92% of the company’s stock.

Albany International 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.