Park Avenue Securities LLC Has $317,000 Stake in Albany International Corp. (NYSE:AIN)

Park Avenue Securities LLC lessened its stake in shares of Albany International Corp. (NYSE:AIN) by 5.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,385 shares of the textile maker’s stock after selling 184 shares during the period. Park Avenue Securities LLC’s holdings in Albany International were worth $317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quadrature Capital Ltd raised its holdings in shares of Albany International by 21.0% during the fourth quarter. Quadrature Capital Ltd now owns 6,372 shares of the textile maker’s stock valued at $626,000 after purchasing an additional 1,108 shares during the period. Vanguard Group Inc. raised its stake in Albany International by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 3,518,426 shares of the textile maker’s stock worth $345,580,000 after buying an additional 38,446 shares during the period. Sei Investments Co. boosted its holdings in Albany International by 37.2% in the fourth quarter. Sei Investments Co. now owns 670,072 shares of the textile maker’s stock worth $65,814,000 after acquiring an additional 181,814 shares in the last quarter. Schroder Investment Management Group grew its stake in Albany International by 0.3% in the fourth quarter. Schroder Investment Management Group now owns 362,670 shares of the textile maker’s stock valued at $35,621,000 after acquiring an additional 1,096 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Albany International during the fourth quarter valued at approximately $586,000. 97.37% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Gunnar Kleveland purchased 1,250 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $84.68 per share, with a total value of $105,850.00. Following the transaction, the chief executive officer now directly owns 6,884 shares of the company’s stock, valued at $582,937.12. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other Albany International news, CEO Gunnar Kleveland bought 1,250 shares of the stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $84.68 per share, with a total value of $105,850.00. Following the acquisition, the chief executive officer now directly owns 6,884 shares of the company’s stock, valued at approximately $582,937.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert D. Starr purchased 1,000 shares of Albany International stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $84.44 per share, with a total value of $84,440.00. Following the completion of the transaction, the chief financial officer now owns 2,610 shares of the company’s stock, valued at approximately $220,388.40. The disclosure for this purchase can be found here. 0.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AIN shares. TD Cowen cut their target price on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of Albany International from $98.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Truist Financial lowered their target price on shares of Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Bank of America cut their price target on Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.00.

Albany International Trading Down 0.6 %

NYSE:AIN opened at $84.45 on Monday. Albany International Corp. has a 52 week low of $78.20 and a 52 week high of $99.41. The firm has a 50-day moving average price of $86.65 and a two-hundred day moving average price of $90.18. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.20 and a current ratio of 3.99.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $313.33 million for the quarter, compared to analyst estimates of $313.41 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. Albany International’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. On average, equities analysts expect that Albany International Corp. will post 3.8 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, June 7th. This represents a $1.04 annualized dividend and a yield of 1.23%. Albany International’s payout ratio is currently 29.21%.

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.