Nisa Investment Advisors LLC Has $110,000 Stake in Albany International Corp. (NYSE:AIN)

Nisa Investment Advisors LLC decreased its holdings in Albany International Corp. (NYSE:AIN) by 15.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,371 shares of the textile maker’s stock after selling 260 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Albany International were worth $110,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Creative Planning grew its position in Albany International by 3.0% in the 2nd quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock worth $424,000 after purchasing an additional 147 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Albany International by 3.3% in the fourth quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock worth $386,000 after purchasing an additional 155 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Albany International by 5.4% during the 2nd quarter. Mackenzie Financial Corp now owns 4,212 shares of the textile maker’s stock valued at $356,000 after acquiring an additional 215 shares during the period. GAMMA Investing LLC lifted its holdings in Albany International by 33.4% during the 3rd 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. Finally, KBC Group NV lifted its holdings in shares of Albany International by 28.9% in the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after buying an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Insider Activity

In other Albany International news, SVP Robert Alan Hansen bought 1,050 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was acquired at an average price of $71.26 per share, with a total value of $74,823.00. Following the completion of the purchase, the senior vice president now 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gunnar Kleveland purchased 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the purchase, the chief executive officer now directly owns 8,284 shares in the company, valued at $590,235. The trade was a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 3,450 shares of company stock worth $245,813 in the last quarter. 0.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AIN. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Bank of America lowered their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. Finally, Truist Financial raised their price target on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.75.

Albany International Trading Up 0.8 %

AIN opened at $80.34 on Friday. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 25.10 and a beta of 1.35. The business has a 50 day simple moving average of $81.20 and a two-hundred day simple moving average of $82.91. Albany International Corp. has a one year low of $67.39 and a one year high of $98.73. 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 (NYSE:AIN) last announced its quarterly 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. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter in the previous year, the company earned $1.02 earnings per share. Albany International’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts predict that Albany International Corp. will post 3.24 EPS for the current year.

Albany International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were given a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. 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%.

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.