9,008 Shares in Albany International Corp. (NYSE:AIN) Purchased by MQS Management LLC

MQS Management LLC bought a new stake in shares of Albany International Corp. (NYSE:AIN) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 9,008 shares of the textile maker’s stock, valued at approximately $800,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC increased its position in Albany International by 27.4% during the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after purchasing an additional 145 shares in the last quarter. Hilltop National Bank boosted its holdings in shares of Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after purchasing an additional 134 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Albany International during the first quarter valued at about $102,000. Central Pacific Bank Trust Division grew its holdings in shares of Albany International by 40.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after purchasing an additional 570 shares during the period. Finally, EntryPoint Capital LLC increased its position in Albany International by 69.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,931 shares of the textile maker’s stock worth $181,000 after purchasing an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Stock Down 2.4 %

Shares of Albany International stock opened at $81.28 on Wednesday. The business has a 50-day moving average price of $79.41 and a 200 day moving average price of $84.73. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $99.41. The firm has a market cap of $2.54 billion, a P/E ratio of 25.40, a P/E/G ratio of 2.70 and a beta of 1.29. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share 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 business had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. During the same period in the previous year, the business earned $1.02 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Albany International Corp. will post 3.2 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is presently 32.50%.

Analyst Ratings Changes

AIN has been the topic of several recent research reports. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Truist Financial reduced their target price on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, TD Cowen dropped their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Albany International presently has a consensus rating of “Hold” and a consensus price target of $88.00.

Insider Activity at Albany International

In other Albany International news, VP Joseph M. Gaug bought 1,000 shares of the business’s stock in a transaction 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 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Joseph M. Gaug acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the purchase, the vice president now directly owns 6,811 shares in the company, valued at $485,215.64. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gunnar Kleveland bought 1,400 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was bought at an average cost of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at $590,235. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 3,450 shares of company stock valued at $245,813 in the last quarter. Insiders own 0.92% of the company’s stock.

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.