Victory Capital Management Inc. increased its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 24.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 847,829 shares of the textile maker's stock after acquiring an additional 163,934 shares during the quarter. Victory Capital Management Inc. owned approximately 2.72% of Albany International worth $75,330,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Albany International by 27.4% during the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker's stock worth $57,000 after purchasing an additional 145 shares during the period. Hilltop National Bank increased its stake in Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker's stock valued at $88,000 after purchasing an additional 134 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Albany International during the first quarter worth approximately $102,000. EntryPoint Capital LLC lifted its position in shares of Albany International by 69.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,931 shares of the textile maker's stock worth $181,000 after buying an additional 794 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings 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 in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.
Albany International Stock Performance
Shares of AIN stock traded down $1.59 during midday trading on Thursday, hitting $80.52. The company had a trading volume of 220,896 shares, compared to its average volume of 162,120. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The company's 50 day simple moving average is $79.27 and its 200 day simple moving average is $84.71. Albany International Corp. has a 52-week low of $67.39 and a 52-week high of $99.41. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.63 and a beta of 1.29.
Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. During the same period in the previous year, the business posted $1.02 earnings per share. The business's revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Albany International Corp. will post 3.2 earnings per share for the current fiscal year.
Albany International Dividend Announcement
The firm also recently announced 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 1.29%. The ex-dividend date was Tuesday, September 3rd. Albany International's dividend payout ratio (DPR) is currently 32.50%.
Analyst Upgrades and Downgrades
AIN has been the subject of a number of research reports. Truist Financial reduced 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 report on Friday, November 1st. TD Cowen decreased their target price on Albany International from $95.00 to $81.00 and set a "buy" rating for the company in a research report on Friday, October 4th. Finally, StockNews.com lowered Albany International from a "buy" rating to a "hold" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $88.00.
Get Our Latest Research Report on AIN
Insiders Place Their Bets
In other news, VP Joseph M. Gaug purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of $71.24 per share, for a total transaction of $71,240.00. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Alan Hansen acquired 1,050 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average cost of $71.26 per share, with a total value of $74,823.00. Following the completion of the acquisition, the senior vice president now owns 8,387 shares of the company's stock, valued at $597,657.62. The trade was a 14.31 % increase in their position. The disclosure for this purchase can be found here. In the last ninety 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 Company Profile
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Free Report)
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.
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