Thrivent Financial for Lutherans Cuts Stock Holdings in Albany International Corp. (NYSE:AIN)

Thrivent Financial for Lutherans lowered its stake in Albany International Corp. (NYSE:AIN) by 5.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 24,502 shares of the textile maker’s stock after selling 1,399 shares during the period. Thrivent Financial for Lutherans’ holdings in Albany International were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Albany International by 27.4% during the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after purchasing an additional 145 shares during the period. Hilltop National Bank increased its holdings in shares of 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 last quarter. KBC Group NV increased its holdings in shares of Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after buying an additional 237 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Albany International by 40.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after buying an additional 570 shares during the last quarter. Finally, Bridges Investment Management Inc. bought a new position in Albany International during the 3rd quarter valued at about $206,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Trading Down 0.8 %

Shares of Albany International stock opened at $82.40 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The firm has a fifty day moving average price of $78.82 and a 200 day moving average price of $84.52. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $99.41. The stock has a market cap of $2.58 billion, a PE ratio of 25.75 and a beta of 1.29.

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

Analyst Ratings Changes

AIN has been the topic of several analyst reports. TD Cowen cut their price target 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. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Bank of America decreased their target price on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Friday, November 15th. Finally, Truist Financial decreased their price target on shares of Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.50.

Insider Activity

In other Albany International news, VP Joseph M. Gaug purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average cost of $71.24 per share, with a total value of $71,240.00. Following the completion of the purchase, the vice president now owns 6,811 shares in the company, valued at approximately $485,215.64. This represents a 17.21 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gunnar Kleveland bought 1,400 shares of Albany International stock in a transaction on Tuesday, November 5th. The shares were purchased 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 directly owns 8,284 shares of the company’s stock, valued at $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 worth $245,813 over the last 90 days. 0.92% of the stock is currently owned by company insiders.

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.