Albany International Corp. (NYSE:AIN) Stock Position Decreased by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in Albany International Corp. (NYSE:AIN - Free Report) by 94.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,226 shares of the textile maker's stock after selling 20,267 shares during the period. SG Americas Securities LLC's holdings in Albany International were worth $109,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Whittier Trust Co. increased its stake in Albany International by 94.7% during the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker's stock valued at $51,000 after purchasing an additional 266 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker's stock valued at $57,000 after purchasing an additional 145 shares during the last quarter. Hilltop National Bank raised its position in shares of 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 during the period. Central Pacific Bank Trust Division bought a new stake in shares of Albany International in the 1st quarter worth approximately $128,000. Finally, EntryPoint Capital LLC boosted its position in Albany International by 69.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,931 shares of the textile maker's stock valued at $181,000 after purchasing an additional 794 shares during the period. Institutional investors and hedge funds own 97.37% of the company's stock.

Albany International Price Performance

Shares of Albany International stock traded up $1.14 on Monday, hitting $72.25. The company had a trading volume of 292,038 shares, compared to its average volume of 153,634. Albany International Corp. has a 52 week low of $69.19 and a 52 week high of $99.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87. The company has a market cap of $2.25 billion, a PE ratio of 20.29, a PEG ratio of 2.39 and a beta of 1.25. The business has a 50-day simple moving average of $83.22 and a 200-day simple moving average of $85.84.

Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. Albany International had a net margin of 8.76% and a return on equity of 13.13%. The firm's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. Research analysts expect that Albany International Corp. will post 3.11 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International's payout ratio is 29.21%.

Analyst Upgrades and Downgrades

AIN has been the subject of several analyst reports. StockNews.com raised shares of Albany International from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Truist Financial dropped their price target on shares of Albany International from $101.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. Finally, TD Cowen decreased their price objective on Albany International from $95.00 to $81.00 and set a "buy" rating for the company in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Albany International has an average rating of "Hold" and an average price target of $89.50.

Albany International 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.