Albany International Corp. (NYSE:AIN) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. grew its stake in Albany International Corp. (NYSE:AIN) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,610 shares of the textile maker’s stock after purchasing an additional 365 shares during the period. Blue Trust Inc.’s holdings in Albany International were worth $321,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quarry LP increased its holdings in shares of Albany International by 515.4% in the third 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 shares of Albany International by 33.4% in the third 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 boosted its stake in shares of 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 buying an additional 237 shares in the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Albany International by 40.3% in the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock valued at $176,000 after buying an additional 570 shares in the last quarter. Finally, Bridges Investment Management Inc. purchased a new stake in shares of Albany International in the third quarter valued at approximately $206,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Insider Activity

In related news, CEO Gunnar Kleveland acquired 1,400 shares of Albany International stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average cost of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at $590,235. The trade was a 20.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph M. Gaug bought 1,000 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of $71.24 per share, for a total transaction of $71,240.00. Following the completion of the transaction, the vice president now directly owns 6,811 shares of the company’s stock, valued at $485,215.64. This trade represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,450 shares of company stock worth $245,813 over the last three months. 0.76% of the stock is currently owned by corporate insiders.

Albany International Stock Up 0.5 %

AIN opened at $80.75 on Friday. The business’s fifty day moving average is $81.12 and its two-hundred day moving average is $82.77. 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 company has a market cap of $2.53 billion, a price-to-earnings ratio of 25.23 and a beta of 1.35. Albany International Corp. has a one year low of $67.39 and a one year high of $98.73.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $298.40 million for the quarter, compared to the consensus estimate of $304.51 million. During the same period in the prior year, the business earned $1.02 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. Analysts anticipate that Albany International Corp. will post 3.24 EPS for the current fiscal year.

Albany International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were given a $0.27 dividend. This is an increase from Albany International’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, December 17th. Albany International’s dividend payout ratio is currently 33.75%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America decreased their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. TD Cowen upgraded Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Truist Financial boosted their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.75.

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.