Albany International Corp. (NYSE:AIN) Shares Sold by Dakota Wealth Management

Dakota Wealth Management cut its holdings in Albany International Corp. (NYSE:AIN) by 26.9% during the 4th quarter, Holdings Channel reports. The firm owned 9,313 shares of the textile maker’s stock after selling 3,426 shares during the period. Dakota Wealth Management’s holdings in Albany International were worth $745,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. increased its position in Albany International by 24.0% during the third quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock worth $75,330,000 after buying an additional 163,934 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Albany International by 60.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock worth $14,335,000 after purchasing an additional 60,812 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Albany International by 176.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock worth $5,650,000 after purchasing an additional 42,740 shares in the last quarter. Barclays PLC raised its stake in Albany International by 305.5% in the 3rd quarter. Barclays PLC now owns 53,227 shares of the textile maker’s stock valued at $4,728,000 after purchasing an additional 40,101 shares during the last quarter. Finally, State Street Corp lifted its holdings in Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock valued at $108,544,000 after purchasing an additional 36,944 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AIN has been the subject of a number of analyst reports. TD Cowen raised shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. 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 report on Friday, November 15th. JPMorgan Chase & Co. decreased their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Truist Financial raised their price target on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.75.

Albany International Trading Up 0.1 %

AIN stock opened at $80.90 on Friday. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 25.28 and a beta of 1.35. The business has a fifty day simple moving average of $81.39 and a 200-day simple moving average of $83.02. Albany International Corp. has a 52 week low of $67.39 and a 52 week high of $98.73.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.45 by $0.35. The company had revenue of $298.40 million during 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 firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.02 earnings per share. On average, equities research analysts expect that Albany International Corp. will post 3.24 EPS for the current year.

Albany International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.27 per share. This is an increase from Albany International’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, December 17th. Albany International’s payout ratio is currently 33.75%.

Insider Transactions at Albany International

In related news, VP Joseph M. Gaug purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average price of $71.24 per share, for a total transaction of $71,240.00. Following the acquisition, the vice president now directly owns 6,811 shares in the company, valued at $485,215.64. The trade was a 17.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gunnar Kleveland acquired 1,400 shares of the stock in a transaction on Tuesday, November 5th. The stock was purchased at an average cost of $71.25 per share, with a total value of $99,750.00. Following the transaction, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at $590,235. This represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 3,450 shares of company stock valued at $245,813 over the last 90 days. Corporate insiders own 0.76% of the company’s stock.

Albany International Company 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.