Inspire Investing LLC Purchases 520 Shares of Albany International Corp. (NYSE:AIN)

Inspire Investing LLC grew its holdings in shares of Albany International Corp. (NYSE:AIN) by 12.5% in the third quarter, Holdings Channel.com reports. The firm owned 4,670 shares of the textile maker’s stock after buying an additional 520 shares during the period. Inspire Investing LLC’s holdings in Albany International were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Diversified Trust Co lifted its stake in shares of Albany International by 3.6% during the 3rd quarter. Diversified Trust Co now owns 10,150 shares of the textile maker’s stock valued at $902,000 after buying an additional 350 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Albany International by 33.4% during the third quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock worth $80,000 after acquiring an additional 225 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Albany International by 40.3% during the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after acquiring an additional 570 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Albany International in the second quarter worth $1,182,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Albany International in the second quarter valued at $1,322,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

Shares of AIN opened at $74.05 on Wednesday. Albany International Corp. has a 12-month low of $69.19 and a 12-month high of $99.41. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. The company has a market cap of $2.31 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.39 and a beta of 1.25. The stock has a 50-day moving average price of $85.60 and a 200-day moving average price of $86.74.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The company had revenue of $331.99 million during the quarter, compared to analysts’ expectations of $318.17 million. During the same period in the prior year, the business earned $0.90 earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, equities analysts forecast that Albany International Corp. will post 3.11 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.40%. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Truist Financial cut their price objective on shares of Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, TD Cowen decreased 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Albany International currently has an average rating of “Hold” and an average target price of $89.50.

Albany International Company 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.