Albany International Corp. (NYSE:AIN) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in shares of Albany International Corp. (NYSE:AIN) by 10.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,572 shares of the textile maker’s stock after selling 1,491 shares during the period. BNP Paribas Financial Markets’ holdings in Albany International were worth $1,117,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AIN. GAMMA Investing LLC lifted its position in shares of Albany International by 33.4% during the third quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock worth $80,000 after purchasing an additional 225 shares in the last quarter. KBC Group NV lifted its position in shares of Albany International by 28.9% during the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after purchasing an additional 237 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Albany International by 40.3% during the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after purchasing an additional 570 shares in the last quarter. Bridges Investment Management Inc. acquired a new stake in Albany International in the third quarter valued at $206,000. Finally, Versor Investments LP acquired a new stake in Albany International in the second quarter valued at $236,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial cut their price target on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. TD Cowen cut their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Bank of America cut their price target on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. Finally, StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $85.50.

Insider Transactions at Albany International

In related news, VP Joseph M. Gaug acquired 1,000 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average price of $71.24 per share, with a total value 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. This trade represents a 17.21 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert Alan Hansen acquired 1,050 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average cost of $71.26 per share, with a total value of $74,823.00. Following the acquisition, the senior vice president now directly owns 8,387 shares of the company’s stock, valued at approximately $597,657.62. This trade represents a 14.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 3,450 shares of company stock worth $245,813. Insiders own 0.92% of the company’s stock.

Albany International Stock Up 0.7 %

AIN stock opened at $82.60 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. Albany International Corp. has a 1-year low of $67.39 and a 1-year high of $99.41. The firm has a fifty day moving average price of $77.84 and a two-hundred day moving average price of $83.98. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 25.81 and a beta of 1.34.

Albany International (NYSE:AIN) last released its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts predict that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.08 annualized dividend and a dividend yield of 1.31%. This is a positive change from Albany International’s previous quarterly dividend of $0.26. Albany International’s dividend payout ratio is currently 33.75%.

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.