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

Dakota Wealth Management lessened its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,313 shares of the textile maker's stock after selling 3,426 shares during the quarter. Dakota Wealth Management's holdings in Albany International were worth $745,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AIN. State Street Corp raised its position in shares of Albany International by 3.1% during the third quarter. State Street Corp now owns 1,218,058 shares of the textile maker's stock worth $108,544,000 after acquiring an additional 36,944 shares during the last quarter. MQS Management LLC bought a new stake in shares of Albany International in the 3rd quarter worth $800,000. JPMorgan Chase & Co. increased its position in shares of Albany International by 14.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker's stock valued at $7,163,000 after purchasing an additional 9,931 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Albany International by 5.4% during the 3rd quarter. Natixis Advisors LLC now owns 239,697 shares of the textile maker's stock valued at $21,297,000 after acquiring an additional 12,262 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Albany International by 6.6% during the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker's stock valued at $52,071,000 after purchasing an additional 36,274 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Albany International news, CEO Gunnar Kleveland bought 1,400 shares of the firm's stock in a transaction on Tuesday, November 5th. The shares were acquired at an average cost of $71.25 per share, with a total value of $99,750.00. Following 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph M. Gaug bought 1,000 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was bought 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 directly owns 6,811 shares in the company, valued at approximately $485,215.64. The trade was a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,450 shares of company stock worth $245,813. Corporate insiders own 0.76% of the company's stock.

Albany International Trading Up 0.1 %

NYSE AIN traded up $0.11 during trading on Friday, hitting $80.90. The stock had a trading volume of 154,124 shares, compared to its average volume of 151,596. The stock has a 50 day simple moving average of $81.39 and a 200 day simple moving average of $83.02. 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 stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 25.28 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.35. The firm had revenue of $298.40 million during the quarter, compared to analysts' expectations of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 EPS. Sell-side analysts predict that Albany International Corp. will post 3.24 earnings per share for the current 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 issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Tuesday, December 17th. This is a boost from Albany International's previous quarterly dividend of $0.26. Albany International's payout ratio is 33.75%.

Wall Street Analyst Weigh In

AIN has been the subject of several research analyst reports. TD Cowen raised Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. Bank of America dropped their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. StockNews.com upgraded shares of Albany International from a "hold" rating to a "buy" rating in a report on Thursday. Finally, Truist Financial increased their price objective on shares of Albany International from $85.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Albany International has a consensus rating of "Moderate Buy" and a consensus target price of $80.75.

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.