Barclays PLC Has $4.73 Million Stock Position in Albany International Corp. (NYSE:AIN)

Barclays PLC grew its stake in Albany International Corp. (NYSE:AIN) by 305.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,227 shares of the textile maker’s stock after buying an additional 40,101 shares during the quarter. Barclays PLC owned 0.17% of Albany International worth $4,728,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AIN. Victory Capital Management Inc. grew its stake in shares of Albany International by 5,971.5% during the 2nd quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock worth $57,755,000 after acquiring an additional 672,631 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Albany International by 60.5% during the third quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock worth $14,335,000 after purchasing an additional 60,812 shares during the last quarter. Earnest Partners LLC grew its position in Albany International by 2.1% in the second quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after purchasing an additional 53,743 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Albany International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after buying an additional 52,909 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Albany International by 176.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock worth $5,650,000 after buying an additional 42,740 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Trading Up 2.4 %

Albany International stock opened at $81.18 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The stock has a 50-day simple moving average of $78.69 and a 200 day simple moving average of $83.65. The stock has a market capitalization of $2.54 billion, a P/E ratio of 25.37 and a beta of 1.34. Albany International Corp. has a 52 week low of $67.39 and a 52 week high of $99.41.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $304.51 million. During the same period in the previous year, the firm earned $1.02 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. Analysts expect that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.08 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Albany International’s previous quarterly dividend of $0.26. Albany International’s dividend payout ratio is 33.75%.

Analysts Set New Price Targets

AIN has been the subject of several analyst reports. Truist Financial decreased their price objective on Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, November 1st. 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 research note on Friday, November 15th. TD Cowen upgraded Albany International to a “strong-buy” rating in a research note on Thursday. Finally, StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.50.

Insider Buying and Selling at Albany International

In other news, SVP Robert Alan Hansen acquired 1,050 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average cost of $71.26 per share, with a total value of $74,823.00. Following the acquisition, the senior vice president now directly owns 8,387 shares in the company, valued at $597,657.62. This represents a 14.31 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gunnar Kleveland acquired 1,400 shares of the stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the transaction, the chief executive officer now directly owns 8,284 shares in the company, valued at approximately $590,235. This trade represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,450 shares of company stock valued at $245,813 in the last three months. 0.76% of the stock is currently 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.