Albany International Corp. (NYSE:AIN) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its stake in shares of Albany International Corp. (NYSE:AIN) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,904 shares of the textile maker’s stock after selling 378 shares during the quarter. Park Avenue Securities LLC’s holdings in Albany International were worth $258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UniSuper Management Pty Ltd purchased a new stake in shares of Albany International in the first quarter valued at about $679,000. Assenagon Asset Management S.A. boosted its holdings in Albany International by 29.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker’s stock valued at $8,490,000 after purchasing an additional 23,018 shares in the last quarter. Sei Investments Co. increased its position in Albany International by 3.7% during the 1st quarter. Sei Investments Co. now owns 694,792 shares of the textile maker’s stock worth $64,970,000 after purchasing an additional 24,720 shares during the period. Vanguard Group Inc. raised its stake in shares of Albany International by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after buying an additional 11,052 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Albany International by 9.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,687 shares of the textile maker’s stock valued at $2,677,000 after buying an additional 2,367 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on AIN. Truist Financial dropped their price objective on Albany International from $101.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. TD Cowen cut their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.50.

Albany International Trading Up 3.0 %

Shares of AIN stock opened at $72.35 on Monday. The stock has a market cap of $2.26 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.39 and a beta of 1.25. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. Albany International Corp. has a fifty-two week low of $69.19 and a fifty-two week high of $99.41. The business has a fifty day simple moving average of $86.06 and a 200-day simple moving average of $87.08.

Albany International (NYSE:AIN) last announced 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). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The business had revenue of $331.99 million during the quarter, compared to analysts’ expectations of $318.17 million. During the same period last year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, analysts forecast that Albany International Corp. will post 3.11 earnings per share for the current fiscal year.

Albany International Dividend Announcement

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

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.