Quadrature Capital Ltd Boosts Stock Position in Albany International Corp. (NYSE:AIN)

Quadrature Capital Ltd boosted its holdings in shares of Albany International Corp. (NYSE:AIN) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,372 shares of the textile maker’s stock after acquiring an additional 1,108 shares during the quarter. Quadrature Capital Ltd’s holdings in Albany International were worth $626,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. MQS Management LLC raised its position in shares of Albany International by 2.4% in the 3rd quarter. MQS Management LLC now owns 6,584 shares of the textile maker’s stock worth $568,000 after acquiring an additional 156 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Albany International by 1.0% in the third quarter. HighTower Advisors LLC now owns 16,134 shares of the textile maker’s stock worth $1,401,000 after buying an additional 156 shares during the last quarter. Strs Ohio boosted its stake in shares of Albany International by 22.2% in the fourth quarter. Strs Ohio now owns 1,100 shares of the textile maker’s stock worth $108,000 after buying an additional 200 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Albany International in the third quarter worth about $29,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Albany International by 11.6% in the fourth quarter. QRG Capital Management Inc. now owns 3,478 shares of the textile maker’s stock worth $342,000 after buying an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. TD Cowen lowered their price target on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Bank of America lowered their price target on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. Finally, Truist Financial lowered their price target on Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.00.

Insider Activity at Albany International

In related news, CFO Robert D. Starr purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $84.44 per share, with a total value of $84,440.00. Following the completion of the acquisition, the chief financial officer now owns 2,610 shares in the company, valued at $220,388.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Albany International news, CEO Gunnar Kleveland acquired 1,250 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $84.68 per share, for a total transaction of $105,850.00. Following the completion of the transaction, the chief executive officer now owns 6,884 shares of the company’s stock, valued at approximately $582,937.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert D. Starr acquired 1,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $84.44 per share, with a total value of $84,440.00. Following the completion of the transaction, the chief financial officer now directly owns 2,610 shares of the company’s stock, valued at approximately $220,388.40. The disclosure for this purchase can be found here. Insiders own 0.76% of the company’s stock.

Albany International Price Performance

Shares of Albany International stock opened at $85.13 on Friday. The business has a 50 day simple moving average of $87.01 and a two-hundred day simple moving average of $90.36. Albany International Corp. has a 12 month low of $78.20 and a 12 month high of $99.41. The stock has a market capitalization of $2.66 billion, a P/E ratio of 23.91, a PEG ratio of 2.47 and a beta of 1.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 3.20.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The business had revenue of $313.33 million during the quarter, compared to analysts’ expectations of $313.41 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. As a group, analysts predict that Albany International Corp. will post 3.8 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.22%. Albany International’s dividend payout ratio is presently 29.21%.

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.