Albany International Corp. (NYSE:AIN) Holdings Reduced by Champlain Investment Partners LLC

Champlain Investment Partners LLC lessened its holdings in shares of Albany International Corp. (NYSE:AIN) by 4.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,050,788 shares of the textile maker’s stock after selling 47,507 shares during the quarter. Champlain Investment Partners LLC’s holdings in Albany International were worth $93,363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AIN. SG Americas Securities LLC acquired a new stake in Albany International in the 1st quarter valued at approximately $102,000. Russell Investments Group Ltd. increased its holdings in shares of Albany International by 3,897.2% during the first quarter. Russell Investments Group Ltd. now owns 2,878 shares of the textile maker’s stock valued at $269,000 after purchasing an additional 2,806 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Albany International by 36.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,172 shares of the textile maker’s stock valued at $1,088,000 after purchasing an additional 3,233 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Albany International by 0.3% in the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after purchasing an additional 11,052 shares during the period. Finally, UniSuper Management Pty Ltd bought a new position in Albany International in the 1st quarter valued at about $679,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Robert Alan Hansen bought 1,050 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average cost of $71.26 per share, with a total value of $74,823.00. Following the completion of the transaction, the senior vice president now directly owns 8,387 shares in the company, valued at approximately $597,657.62. The trade was a 14.31 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Joseph M. Gaug purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average price of $71.24 per share, for a total transaction of $71,240.00. Following the acquisition, the vice president now directly owns 6,811 shares of the company’s stock, valued at $485,215.64. This trade represents a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 3,450 shares of company stock valued at $245,813 over the last three months. Insiders own 0.76% of the company’s stock.

Albany International Stock Up 2.7 %

NYSE AIN opened at $84.78 on Friday. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $99.41. The company has a market capitalization of $2.65 billion, a P/E ratio of 26.49, a PEG ratio of 2.69 and a beta of 1.29. The company’s 50 day simple moving average is $78.90 and its 200 day simple moving average is $84.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.35. The company had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm’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 earnings per share. Equities research analysts expect that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AIN has been the topic of a number of recent analyst reports. 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 report on Friday, October 4th. Truist Financial dropped their target price on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Bank of America lowered their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $85.50.

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.