Kennedy Capital Management LLC Sells 12,866 Shares of Albany International Corp. (NYSE:AIN)

Kennedy Capital Management LLC reduced its holdings in shares of Albany International Corp. (NYSE:AIN) by 8.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 140,569 shares of the textile maker’s stock after selling 12,866 shares during the period. Kennedy Capital Management LLC owned about 0.45% of Albany International worth $13,145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in Albany International during the 4th quarter worth $47,000. Whittier Trust Co. increased its holdings in Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares during the period. Principal Securities Inc. purchased a new position in Albany International during the 4th quarter worth $77,000. TFO Wealth Partners LLC increased its holdings in Albany International by 109,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock worth $98,000 after purchasing an additional 1,091 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Albany International during the 1st quarter worth $102,000. 97.37% of the stock is owned by institutional investors.

Insider Transactions at Albany International

In other Albany International news, CEO Gunnar Kleveland acquired 1,250 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $84.68 per share, with a total value of $105,850.00. Following the transaction, the chief executive officer now directly owns 6,884 shares of the company’s stock, valued at $582,937.12. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Albany International news, CEO Gunnar Kleveland acquired 1,250 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $84.68 per share, with a total value of $105,850.00. Following the transaction, the chief executive officer now directly owns 6,884 shares of the company’s stock, valued at $582,937.12. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert D. Starr purchased 1,000 shares of the stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $84.44 per share, with a total value of $84,440.00. Following the transaction, the chief financial officer now owns 2,610 shares in the company, valued at approximately $220,388.40. The disclosure for this purchase can be found here. Insiders own 0.76% of the company’s stock.

Albany International Stock Up 1.1 %

Shares of NYSE:AIN traded up $0.99 on Tuesday, reaching $93.02. The company had a trading volume of 105,108 shares, compared to its average volume of 143,364. The company has a current ratio of 3.99, a quick ratio of 3.20 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $2.90 billion, a PE ratio of 25.85, a PEG ratio of 2.71 and a beta of 1.27. Albany International Corp. has a 52-week low of $78.20 and a 52-week high of $99.41. The firm’s 50 day simple moving average is $86.55 and its 200-day simple moving average is $89.00.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $313.33 million during the quarter, compared to analysts’ expectations of $313.41 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. As a group, analysts expect that Albany International Corp. will post 3.79 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 7th were given a $0.26 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.12%. Albany International’s payout ratio is 29.21%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Bank of America cut their price target on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a report on Wednesday, May 29th. TD Cowen cut their price target on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Truist Financial cut their price target on Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has assigned 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 a consensus price target of $95.50.

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.