Albany International Corp. (NYSE:AIN) Shares Bought by Barclays PLC

Barclays PLC lifted its stake in shares of Albany International Corp. (NYSE:AIN - Free Report) by 305.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,227 shares of the textile maker's stock after acquiring an additional 40,101 shares during the quarter. Barclays PLC owned approximately 0.17% of Albany International worth $4,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP boosted its holdings in Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker's stock worth $43,000 after acquiring an additional 402 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 worth $80,000 after buying an additional 225 shares in the last quarter. KBC Group NV raised its position 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 buying an additional 237 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Albany International by 40.3% during the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker's stock worth $176,000 after purchasing an additional 570 shares in the last quarter. Finally, Bridges Investment Management Inc. bought a new position in shares of Albany International in the 3rd quarter worth $206,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Stock Performance

Albany International stock traded up $1.93 during midday trading on Friday, hitting $81.18. The stock had a trading volume of 825,423 shares, compared to its average volume of 174,356. The company has a market capitalization of $2.54 billion, a PE ratio of 25.37 and a beta of 1.34. 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 $78.69 and its two-hundred day moving average is $83.62. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. During the same period in the previous year, the firm earned $1.02 earnings per share. Albany International's quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.33%. The ex-dividend date is Tuesday, December 17th. This is an increase from Albany International's previous quarterly dividend of $0.26. Albany International's dividend payout ratio (DPR) is currently 33.75%.

Analysts Set New Price Targets

Several analysts have issued reports on AIN shares. Bank of America cut their target price on Albany International from $90.00 to $80.00 and set an "underperform" rating for the company in a research note on Friday, November 15th. TD Cowen upgraded Albany International to a "strong-buy" rating in a report on Thursday. StockNews.com upgraded shares of Albany International from a "hold" rating to a "buy" rating in a report on Friday, December 13th. Finally, Truist Financial cut their target price on shares of 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $85.50.

Insider Activity at Albany International

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

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.