Quantinno Capital Management LP Acquires 539 Shares of Albany International Corp. (NYSE:AIN)

Quantinno Capital Management LP boosted its holdings in Albany International Corp. (NYSE:AIN) by 14.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,171 shares of the textile maker’s stock after acquiring an additional 539 shares during the quarter. Quantinno Capital Management LP’s holdings in Albany International were worth $371,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AIN. Quarry LP grew its stake in shares of Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 402 shares during the period. GAMMA Investing LLC boosted its stake in Albany International by 33.4% in the 3rd quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock valued at $80,000 after buying an additional 225 shares in the last quarter. KBC Group NV grew its position in Albany International by 28.9% in the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 237 shares during the period. Central Pacific Bank Trust Division raised its stake in Albany International by 40.3% during the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after acquiring an additional 570 shares in the last quarter. Finally, Bridges Investment Management Inc. acquired a new position in Albany International during the third quarter worth $206,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Wall Street Analysts Forecast Growth

AIN has been the topic of several analyst reports. TD Cowen lowered their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Truist Financial decreased their price objective on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Bank of America reduced their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Albany International presently has a consensus rating of “Hold” and a consensus target price of $85.50.

Albany International Stock Down 0.2 %

Shares of NYSE:AIN opened at $81.96 on Monday. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $99.41. The firm has a market cap of $2.57 billion, a P/E ratio of 25.61 and a beta of 1.34. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $77.92 and its two-hundred day moving average price is $83.88.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. During the same quarter last year, the business posted $1.02 earnings per share. Albany International’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Albany International’s previous quarterly dividend of $0.26. Albany International’s payout ratio is presently 33.75%.

Insider Activity

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

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.