GSA Capital Partners LLP Sells 5,139 Shares of Albany International Corp. (NYSE:AIN)

GSA Capital Partners LLP decreased its stake in shares of Albany International Corp. (NYSE:AIN) by 31.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,350 shares of the textile maker’s stock after selling 5,139 shares during the period. GSA Capital Partners LLP’s holdings in Albany International were worth $1,008,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AIN. Vanguard Group Inc. boosted its holdings in shares of Albany International by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after acquiring an additional 11,052 shares during the period. Earnest Partners LLC boosted its stake in Albany International by 2.1% in the 2nd 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 during the period. Dimensional Fund Advisors LP grew its holdings 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 in the last quarter. William Blair Investment Management LLC increased its position in Albany International by 3.5% during the 2nd quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock worth $61,335,000 after buying an additional 24,430 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Albany International by 2.0% during the second quarter. Sei Investments Co. now owns 708,373 shares of the textile maker’s stock worth $59,822,000 after buying an additional 13,581 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Insiders Place Their Bets

In related news, VP Joseph M. Gaug acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired 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 in the company, valued at $485,215.64. This trade represents a 17.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gunnar Kleveland bought 1,400 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was bought 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 of the company’s stock, valued at approximately $590,235. This represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 3,450 shares of company stock valued at $245,813. 0.76% of the stock is currently owned by corporate insiders.

Albany International Stock Performance

Shares of Albany International stock opened at $80.09 on Friday. 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 has a market cap of $2.51 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 2.66 and a beta of 1.29. The company has a 50 day moving average of $79.06 and a 200-day moving average of $84.63. Albany International Corp. has a 1-year low of $67.39 and a 1-year high of $99.41.

Albany International (NYSE:AIN) last released its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping 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 firm had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same period in the prior year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Albany International Corp. will post 3.2 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio is presently 32.50%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research note on Wednesday. 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. Bank of America cut 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. Finally, Truist Financial lowered their price objective 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 investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.50.

Albany International Profile

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.