Albany International Corp. (NYSE:AIN) Stock Position Raised by Creative Planning

Creative Planning raised its position in shares of Albany International Corp. (NYSE:AIN) by 18.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,941 shares of the textile maker’s stock after purchasing an additional 923 shares during the period. Creative Planning’s holdings in Albany International were worth $528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIN. Hilltop National Bank lifted its stake in shares of Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after acquiring an additional 134 shares during the period. GAMMA Investing LLC increased its stake 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 last quarter. Arizona State Retirement System increased its stake in shares of Albany International by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock worth $738,000 after purchasing an additional 175 shares during the last quarter. Dakota Wealth Management increased its stake in shares of Albany International by 1.5% during the 2nd quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock worth $1,116,000 after purchasing an additional 195 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Albany International by 1.5% during the 1st quarter. Bessemer Group Inc. now owns 13,881 shares of the textile maker’s stock worth $1,298,000 after purchasing an additional 200 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Trading Up 4.4 %

AIN opened at $73.39 on Wednesday. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.29 billion, a PE ratio of 22.93, a PEG ratio of 2.28 and a beta of 1.29. Albany International Corp. has a 1-year low of $67.39 and a 1-year high of $99.41. The firm has a 50-day moving average price of $80.50 and a two-hundred day moving average price of $84.95.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.35. The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 EPS. As a group, equities analysts anticipate that Albany International Corp. will post 3.16 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. Stockholders of record on Tuesday, September 3rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is presently 32.50%.

Insider Buying and Selling

In other news, VP Joseph M. Gaug acquired 1,000 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of $71.24 per share, with a total value of $71,240.00. Following the purchase, the vice president now directly owns 6,811 shares of the company’s stock, valued at $485,215.64. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Albany International news, CEO Gunnar Kleveland acquired 1,400 shares of the stock in a transaction dated Tuesday, November 5th. The shares were bought 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 directly owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph M. Gaug acquired 1,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average price of $71.24 per share, for a total transaction of $71,240.00. Following the completion of the acquisition, the vice president now directly owns 6,811 shares of the company’s stock, valued at $485,215.64. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 3,450 shares of company stock valued at $245,813 in the last 90 days. 0.92% of the stock is owned by insiders.

Analysts Set New Price Targets

AIN has been the subject of several recent analyst reports. TD Cowen decreased their price objective 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. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Truist Financial dropped their target price 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $88.00.

About Albany International

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.