Gilman Hill Asset Management LLC Decreases Position in Albany International Corp. (NYSE:AIN)

Gilman Hill Asset Management LLC cut its stake in shares of Albany International Corp. (NYSE:AIN - Free Report) by 9.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 37,188 shares of the textile maker's stock after selling 4,061 shares during the period. Gilman Hill Asset Management LLC owned about 0.12% of Albany International worth $2,974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Earnest Partners LLC lifted its stake in Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker's stock valued at $218,961,000 after buying an additional 53,743 shares in the last quarter. State Street Corp raised its stake 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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Albany International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker's stock valued at $92,192,000 after purchasing an additional 52,909 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Albany International by 24.0% during the 3rd quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker's stock worth $75,330,000 after purchasing an additional 163,934 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Albany International by 1.2% during the third quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker's stock worth $63,609,000 after buying an additional 8,356 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Albany International

In related 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 purchased at an average cost of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the chief executive officer now owns 8,284 shares in the company, valued at approximately $590,235. This trade represents a 20.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Alan Hansen bought 1,050 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average cost of $71.26 per share, with a total value of $74,823.00. Following the completion of the purchase, the senior vice president now directly owns 8,387 shares in the company, valued at $597,657.62. This represents a 14.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 3,450 shares of company stock valued at $245,813 in the last three months. 0.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Albany International Trading Up 0.1 %

AIN stock traded up $0.05 during mid-day trading on Monday, hitting $81.36. 106,847 shares of the company were exchanged, compared to its average volume of 182,907. Albany International Corp. has a 12-month low of $67.39 and a 12-month high of $98.73. The firm has a market capitalization of $2.55 billion, a P/E ratio of 25.42 and a beta of 1.35. The business has a fifty day simple moving average of $81.36 and a 200-day simple moving average of $83.06. 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 posted its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating 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 firm had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. During the same quarter last year, the firm earned $1.02 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts predict that Albany International Corp. will post 3.24 earnings per share for the current fiscal year.

Albany International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.33%. This is a boost from Albany International's previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, December 17th. Albany International's dividend payout ratio (DPR) is 33.75%.

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.