Stifel Financial Corp Increases Position in Albany International Corp. (NYSE:AIN)

Stifel Financial Corp boosted its position in Albany International Corp. (NYSE:AIN) by 4.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 32,287 shares of the textile maker’s stock after acquiring an additional 1,263 shares during the period. Stifel Financial Corp owned about 0.10% of Albany International worth $2,869,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in shares of Albany International in the third quarter valued at $318,000. Quantinno Capital Management LP lifted its position in Albany International by 14.8% during the third quarter. Quantinno Capital Management LP now owns 4,171 shares of the textile maker’s stock worth $371,000 after buying an additional 539 shares during the period. Quarry LP boosted its stake in Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after buying an additional 402 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Albany International by 49.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 99,640 shares of the textile maker’s stock valued at $8,853,000 after buying an additional 32,890 shares during the period. Finally, Centiva Capital LP acquired a new position in shares of Albany International during the 3rd quarter valued at about $308,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AIN shares. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Truist Financial decreased their price target 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. TD Cowen lowered their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, Bank of America cut their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $85.50.

Insider Activity

In other Albany International news, SVP Robert Alan Hansen bought 1,050 shares of the stock in a transaction 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 purchase, the senior vice president now directly owns 8,387 shares in the company, valued at approximately $597,657.62. This trade 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 is accessible through this hyperlink. Also, CEO Gunnar Kleveland bought 1,400 shares of the stock in a transaction dated Tuesday, November 5th. The shares were bought at an average cost of $71.25 per share, with a total value of $99,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at approximately $590,235. The trade was a 20.34 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 3,450 shares of company stock worth $245,813 over the last 90 days. Company insiders own 0.76% of the company’s stock.

Albany International Trading Down 1.1 %

NYSE AIN opened at $80.14 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. Albany International Corp. has a one year low of $67.39 and a one year high of $99.41. The company’s 50 day moving average price is $78.07 and its 200 day moving average price is $83.84. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 24.98 and a beta of 1.34.

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

Albany International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from Albany International’s previous quarterly dividend of $0.26. Albany International’s dividend payout ratio is currently 33.75%.

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.