Amalgamated Bank Sells 331 Shares of Albany International Corp. (NYSE:AIN)

Amalgamated Bank trimmed its stake in shares of Albany International Corp. (NYSE:AIN) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,205 shares of the textile maker’s stock after selling 331 shares during the period. Amalgamated Bank’s holdings in Albany International were worth $818,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after purchasing an additional 145 shares in the last quarter. Hilltop National Bank increased its stake in Albany International by 14.7% in 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 period. SG Americas Securities LLC bought a new position in Albany International in the first quarter worth approximately $102,000. Central Pacific Bank Trust Division raised its holdings in shares of Albany International by 40.3% in the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock valued at $176,000 after acquiring an additional 570 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its stake in shares of Albany International by 69.8% during the first 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. Institutional investors own 97.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AIN shares. TD Cowen lowered their target price on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday, October 4th. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Truist Financial cut their target price on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $88.00.

Insider Transactions at Albany International

In other news, CEO Gunnar Kleveland bought 1,400 shares of Albany International stock in a transaction on Tuesday, November 5th. The shares were bought at an average cost of $71.25 per share, with a total value of $99,750.00. Following the completion of the purchase, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 20.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert Alan Hansen purchased 1,050 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average cost of $71.26 per share, for a total transaction of $74,823.00. Following the purchase, the senior vice president now owns 8,387 shares in the company, valued at approximately $597,657.62. The trade was a 14.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 3,450 shares of company stock valued at $245,813 over the last 90 days. 0.76% of the stock is currently owned by corporate insiders.

Albany International Stock Down 1.9 %

NYSE:AIN opened at $80.52 on Friday. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $99.41. The company has a market cap of $2.52 billion, a PE ratio of 25.11, a P/E/G ratio of 2.63 and a beta of 1.29. 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 company’s 50 day moving average is $79.27 and its two-hundred day moving average is $84.71.

Albany International (NYSE:AIN) last issued its quarterly earnings data 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. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter in the previous year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts anticipate that Albany International Corp. will post 3.2 EPS for the current year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.29%. Albany International’s payout ratio is currently 32.50%.

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.