Harbor Capital Advisors Inc. Sells 337 Shares of Albany International Corp. (NYSE:AIN)

Harbor Capital Advisors Inc. reduced its stake in shares of Albany International Corp. (NYSE:AIN) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,552 shares of the textile maker’s stock after selling 337 shares during the period. Harbor Capital Advisors Inc.’s holdings in Albany International were worth $1,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AIN. Texas Permanent School Fund Corp boosted its position in shares of Albany International by 4.9% in the second quarter. Texas Permanent School Fund Corp now owns 28,639 shares of the textile maker’s stock valued at $2,419,000 after acquiring an additional 1,333 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Albany International by 26.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 39,045 shares of the textile maker’s stock valued at $3,297,000 after purchasing an additional 8,091 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Albany International by 5.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 304,487 shares of the textile maker’s stock valued at $25,714,000 after purchasing an additional 14,700 shares during the period. Dimensional Fund Advisors LP grew its position in 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 worth $92,192,000 after purchasing an additional 52,909 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Albany International by 720.0% during the 2nd quarter. Renaissance Technologies LLC now owns 20,500 shares of the textile maker’s stock worth $1,731,000 after purchasing an additional 18,000 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

Insiders Place Their Bets

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

Albany International Price Performance

Albany International stock opened at $79.89 on Tuesday. The business has a 50 day simple moving average of $81.26 and a 200 day simple moving average of $83.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The company has a market capitalization of $2.50 billion, a PE ratio of 24.97 and a beta of 1.35. Albany International Corp. has a one year low of $67.39 and a one year high of $98.73.

Albany International (NYSE:AIN) last issued its quarterly earnings data 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. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same period last year, the business earned $1.02 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. On average, sell-side 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 was paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th were given a $0.27 dividend. The ex-dividend date was Tuesday, December 17th. This is a positive change from Albany International’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 1.35%. Albany International’s payout ratio is 33.75%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AIN shares. Bank of America decreased 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. Truist Financial decreased their price objective on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. Finally, TD Cowen raised shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.50.

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.