Advantage Alpha Capital Partners LP Has $2.12 Million Stake in Albany International Corp. (NYSE:AIN)

Advantage Alpha Capital Partners LP cut its holdings in shares of Albany International Corp. (NYSE:AIN) by 30.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,857 shares of the textile maker’s stock after selling 10,289 shares during the quarter. Advantage Alpha Capital Partners LP owned 0.08% of Albany International worth $2,120,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings 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 worth $57,000 after buying an additional 145 shares in the last quarter. Hilltop National Bank raised its stake in Albany International by 14.7% during the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after acquiring an additional 134 shares in the last quarter. KBC Group NV lifted its holdings 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 worth $94,000 after acquiring an additional 237 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Albany International in the 1st quarter valued at approximately $102,000. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Albany International by 40.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 570 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analysts Set New Price Targets

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 Thursday, November 21st. Bank of America cut their price objective on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. TD Cowen lowered their target price on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, Truist Financial cut their price target 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 assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $85.50.

Insider Activity at Albany International

In other Albany International news, CEO Gunnar Kleveland bought 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average price of $71.25 per share, with a total value 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 approximately $590,235. This trade represents a 20.34 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joseph M. Gaug bought 1,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was acquired at an average price of $71.24 per share, with a total value of $71,240.00. Following the completion of the acquisition, the vice president now owns 6,811 shares of the company’s stock, valued at $485,215.64. This 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 ninety days. Insiders own 0.92% of the company’s stock.

Albany International Price Performance

Shares of NYSE:AIN opened at $86.24 on Tuesday. The firm has a market cap of $2.70 billion, a PE ratio of 26.95 and a beta of 1.29. Albany International Corp. has a 52 week low of $67.39 and a 52 week high of $99.41. The firm’s fifty day moving average is $78.89 and its 200-day moving average is $84.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68.

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 analysts’ consensus estimates of $0.45 by $0.35. The firm had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 EPS. Sell-side analysts predict that Albany International Corp. will post 3.23 earnings per share for the current year.

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.