Albany International Corp. (NYSE:AIN) Shares Sold by Dakota Wealth Management

Dakota Wealth Management lowered its stake in Albany International Corp. (NYSE:AIN) by 26.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,313 shares of the textile maker’s stock after selling 3,426 shares during the period. Dakota Wealth Management’s holdings in Albany International were worth $745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in AIN. Quarry LP increased its stake in shares of Albany International by 515.4% during the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after buying an additional 402 shares during the period. GAMMA Investing LLC grew its holdings in Albany International by 33.4% during the 3rd 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. KBC Group NV increased its position in shares of Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 237 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Albany International by 40.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 570 shares in the last quarter. Finally, Bridges Investment Management Inc. purchased a new stake in shares of Albany International during the 3rd quarter worth $206,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

Shares of AIN opened at $80.90 on Friday. The company’s 50 day simple moving average is $81.39 and its 200-day simple moving average is $83.02. The firm has a market cap of $2.53 billion, a PE ratio of 25.28 and a beta of 1.35. Albany International Corp. has a 12-month low of $67.39 and a 12-month high of $98.73. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last released its quarterly 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 firm had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. During the same quarter last year, the company posted $1.02 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts predict that Albany International Corp. will post 3.24 EPS for the current year.

Albany International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were issued a $0.27 dividend. This is an increase from Albany International’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.08 annualized dividend and a dividend yield of 1.33%. Albany International’s payout ratio is presently 33.75%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AIN. TD Cowen upgraded Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. Truist Financial boosted their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America reduced their price objective on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.75.

Insider Transactions at Albany International

In other Albany International news, VP Joseph M. Gaug acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average price of $71.24 per share, with a total value of $71,240.00. Following the completion of 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Robert Alan Hansen acquired 1,050 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was acquired at an average price of $71.26 per share, with a total value of $74,823.00. Following the transaction, the senior vice president now directly owns 8,387 shares of the company’s stock, valued at $597,657.62. This represents a 14.31 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 3,450 shares of company stock worth $245,813 over the last ninety days. 0.76% of the stock is currently owned by company insiders.

About Albany International

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.