Barclays PLC Buys 40,101 Shares of Albany International Corp. (NYSE:AIN)

Barclays PLC grew its stake in shares of Albany International Corp. (NYSE:AIN) by 305.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 53,227 shares of the textile maker’s stock after acquiring an additional 40,101 shares during the quarter. Barclays PLC’s holdings in Albany International were worth $4,728,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in Albany International by 5,971.5% in the second quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock valued at $57,755,000 after purchasing an additional 672,631 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Albany International by 60.5% during the third quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock worth $14,335,000 after buying an additional 60,812 shares in the last quarter. Earnest Partners LLC increased its holdings in Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after buying an additional 53,743 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Albany International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after buying an additional 52,909 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of Albany International by 176.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock valued at $5,650,000 after buying an additional 42,740 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Gunnar Kleveland purchased 1,400 shares of Albany International stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the transaction, the chief executive officer now owns 8,284 shares of the company’s stock, valued at approximately $590,235. This represents a 20.34 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph M. Gaug purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was bought at an average cost of $71.24 per share, with a total value of $71,240.00. Following the purchase, the vice president now owns 6,811 shares of the company’s stock, valued at approximately $485,215.64. This trade represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 3,450 shares of company stock valued at $245,813 in the last ninety days. 0.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AIN. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research report on Thursday. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Friday, December 13th. Bank of America lowered their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. Finally, Truist Financial reduced their price objective on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.50.

Albany International Stock Performance

NYSE AIN opened at $81.18 on Friday. The firm’s fifty day moving average price is $78.69 and its two-hundred day moving average price is $83.65. The stock has a market cap of $2.54 billion, a PE ratio of 25.37 and a beta of 1.34. 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 fifty-two week low of $67.39 and a fifty-two week high of $99.41.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter in the prior year, the firm earned $1.02 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts expect that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, December 17th. This is an increase from Albany International’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 1.33%. Albany International’s dividend payout ratio (DPR) 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.