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

Avior Wealth Management LLC cut its stake in Albany International Corp. (NYSE:AIN) by 6.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,925 shares of the textile maker’s stock after selling 477 shares during the quarter. Avior Wealth Management LLC’s holdings in Albany International were worth $554,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Albany International by 24.0% in the third quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock valued at $75,330,000 after purchasing an additional 163,934 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Albany International by 60.5% in the third quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock valued at $14,335,000 after purchasing an additional 60,812 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Albany International by 176.9% in the second quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock valued at $5,650,000 after purchasing an additional 42,740 shares during the last quarter. Barclays PLC increased its stake in shares of Albany International by 305.5% during the 3rd quarter. Barclays PLC now owns 53,227 shares of the textile maker’s stock worth $4,728,000 after purchasing an additional 40,101 shares in the last quarter. Finally, State Street Corp lifted its stake in Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock valued at $108,544,000 after buying an additional 36,944 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Albany International Price Performance

Shares of Albany International stock opened at $80.90 on Friday. The business’s fifty day moving average price is $81.39 and its 200 day moving average price is $83.03. Albany International Corp. has a twelve month low of $67.39 and a twelve 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. The stock has a market capitalization of $2.53 billion, a P/E ratio of 25.28 and a beta of 1.35.

Albany International (NYSE:AIN) last posted its 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. The firm had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 EPS. As a group, research analysts anticipate that Albany International Corp. will post 3.24 earnings per share for the current year.

Albany International Increases Dividend

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

Insider Buying and Selling

In related news, VP Joseph M. Gaug purchased 1,000 shares of Albany International stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $71.24 per share, with a total value of $71,240.00. Following the completion of the transaction, the vice president now owns 6,811 shares of the company’s stock, valued at approximately $485,215.64. This trade represents a 17.21 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Alan Hansen purchased 1,050 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average cost of $71.26 per share, for a total transaction of $74,823.00. Following the completion of the transaction, the senior vice president now owns 8,387 shares in the company, valued at approximately $597,657.62. This represents a 14.31 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,450 shares of company stock valued at $245,813. Corporate insiders own 0.76% 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.