Thrivent Financial for Lutherans Has $2.18 Million Position in Albany International Corp. (NYSE:AIN)

Thrivent Financial for Lutherans lessened its holdings in Albany International Corp. (NYSE:AIN) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,502 shares of the textile maker’s stock after selling 1,399 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Albany International worth $2,177,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AIN. Victory Capital Management Inc. boosted its holdings in shares of Albany International by 5,971.5% during the 2nd quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock valued at $57,755,000 after acquiring an additional 672,631 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Albany International by 60.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock worth $14,335,000 after acquiring an additional 60,812 shares in the last quarter. Earnest Partners LLC raised its position in shares of Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock worth $218,961,000 after acquiring an additional 53,743 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Albany International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after buying an additional 52,909 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Albany International by 176.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock valued at $5,650,000 after buying an additional 42,740 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Insider Buying and Selling at Albany International

In other Albany International news, CEO Gunnar Kleveland bought 1,400 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was acquired at an average price of $71.25 per share, with a total value of $99,750.00. Following the completion of the purchase, the chief executive officer now owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 20.34 % 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, SVP Robert Alan Hansen bought 1,050 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were acquired at an average cost of $71.26 per share, with a total value of $74,823.00. Following the purchase, the senior vice president now directly owns 8,387 shares of the company’s stock, valued at approximately $597,657.62. This represents a 14.31 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 3,450 shares of company stock worth $245,813 over the last three months. Company insiders own 0.92% of the company’s stock.

Albany International Trading Down 0.8 %

Albany International stock opened at $82.40 on Thursday. The stock has a market cap of $2.58 billion, a P/E ratio of 25.75 and a beta of 1.29. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $99.41. The firm’s fifty day moving average price is $78.82 and its 200-day moving average price is $84.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68.

Albany International (NYSE:AIN) last announced its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $304.51 million. During the same period in the previous year, the business earned $1.02 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AIN. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Bank of America lowered 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. TD Cowen lowered 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. Finally, Truist Financial lowered their target price 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.50.

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.