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

Avior Wealth Management LLC decreased its position in shares of Albany International Corp. (NYSE:AIN) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,925 shares of the textile maker’s stock after selling 477 shares during the period. Avior Wealth Management LLC’s holdings in Albany International were worth $554,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO Gunnar Kleveland bought 1,400 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $71.25 per share, with a total value of $99,750.00. Following the completion of the acquisition, the chief executive officer now owns 8,284 shares in the company, valued at approximately $590,235. This trade represents a 20.34 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph M. Gaug purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average cost of $71.24 per share, with a total value of $71,240.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 3,450 shares of company stock worth $245,813 in the last 90 days. Company insiders own 0.76% of the company’s stock.

Albany International Price Performance

Shares of NYSE:AIN opened at $80.90 on Friday. 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 Corp. has a 12 month low of $67.39 and a 12 month high of $98.73. The firm has a market capitalization of $2.53 billion, a P/E ratio of 25.28 and a beta of 1.35. The company’s fifty day moving average price is $81.39 and its 200 day moving average price is $83.03.

Albany International (NYSE:AIN) last announced its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. The firm had revenue of $298.40 million during 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 business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. As a group, sell-side analysts predict that Albany International Corp. will post 3.24 earnings per share for the current fiscal year.

Albany International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were given 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 yield of 1.33%. Albany International’s dividend payout ratio is 33.75%.

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.