Albany International Corp. (NYSE:AIN) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP reduced its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 30.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,857 shares of the textile maker's stock after selling 10,289 shares during the period. Advantage Alpha Capital Partners LP owned 0.08% of Albany International worth $2,120,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Albany International by 27.4% in the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker's stock valued at $57,000 after buying an additional 145 shares during the period. Hilltop National Bank grew its stake in Albany International by 14.7% during the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker's stock worth $88,000 after purchasing an additional 134 shares in the last quarter. KBC Group NV increased its holdings in Albany International by 28.9% during the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker's stock worth $94,000 after purchasing an additional 237 shares during the period. SG Americas Securities LLC acquired a new stake in Albany International in the 1st quarter valued at about $102,000. Finally, Central Pacific Bank Trust Division boosted its stake 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 valued at $176,000 after buying an additional 570 shares during the period. 97.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Albany International news, SVP Robert Alan Hansen purchased 1,050 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average cost of $71.26 per share, with a total value of $74,823.00. Following the acquisition, the senior vice president now owns 8,387 shares of the company's stock, valued at approximately $597,657.62. This represents a 14.31 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gunnar Kleveland bought 1,400 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was acquired at an average cost of $71.25 per share, for a total transaction of $99,750.00. Following the acquisition, 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 disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,450 shares of company stock worth $245,813. 0.92% of the stock is currently owned by corporate insiders.

Albany International Trading Down 3.7 %

Shares of NYSE:AIN traded down $3.17 during midday trading on Tuesday, reaching $83.07. The company's stock had a trading volume of 315,932 shares, compared to its average volume of 168,370. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 26.95 and a beta of 1.29. The business has a 50 day moving average price of $78.89 and a 200 day moving average price of $84.56. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $99.41. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $304.51 million. During the same quarter last year, the firm earned $1.02 earnings per share. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of Albany International from a "buy" rating to a "hold" rating in a research report on Thursday, November 21st. Bank of America decreased their price objective on Albany International from $90.00 to $80.00 and set an "underperform" rating for the company in a report on Friday, November 15th. TD Cowen cut 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. 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 research note on Friday, November 1st. One equities 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 stock. According to data from MarketBeat.com, Albany International has a consensus rating of "Hold" and an average price target of $85.50.

About Albany International

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.