Albany International Corp. (NYSE:AIN) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in Albany International Corp. (NYSE:AIN) by 16.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,025 shares of the textile maker’s stock after acquiring an additional 567 shares during the period. QRG Capital Management Inc.’s holdings in Albany International were worth $358,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 145 shares during the last quarter. Hilltop National Bank increased its holdings in shares of Albany International by 14.7% during the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after buying an additional 134 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Albany International in the 1st quarter valued at $102,000. Central Pacific Bank Trust Division increased its holdings in Albany International by 40.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 570 shares in the last quarter. Finally, EntryPoint Capital LLC increased its holdings in Albany International by 69.8% in the 1st quarter. EntryPoint Capital LLC now owns 1,931 shares of the textile maker’s stock valued at $181,000 after purchasing an additional 794 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Stock Up 1.6 %

Shares of Albany International stock opened at $83.29 on Tuesday. The business has a 50-day moving average of $79.78 and a 200-day moving average of $84.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The company has a market capitalization of $2.61 billion, a PE ratio of 26.03, a P/E/G ratio of 2.66 and a beta of 1.29. Albany International Corp. has a 1-year low of $67.39 and a 1-year high of $99.41.

Albany International (NYSE:AIN) last announced its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.35. The company had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.02 earnings per share. As a group, equities analysts forecast that Albany International Corp. will post 3.2 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.25%. Albany International’s dividend payout ratio is presently 32.50%.

Insider Activity

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 0.00 % 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. In related news, SVP Robert Alan Hansen purchased 1,050 shares of Albany International stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $71.26 per share, with a total value of $74,823.00. Following the completion of the transaction, the senior vice president now owns 8,387 shares of the company’s stock, valued at approximately $597,657.62. This trade represents a 0.00 % 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, VP Joseph M. Gaug purchased 1,000 shares of Albany International stock in a transaction dated Tuesday, November 5th. The shares were bought at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the transaction, 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 disclosure for this purchase can be found here. Insiders acquired 3,450 shares of company stock worth $245,813 over the last ninety days. Corporate insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AIN shares. TD Cowen lowered their price target on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday, October 4th. Truist Financial lowered their price target on Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.00.

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.