Albany International Corp. (NYSE:AIN) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in Albany International Corp. (NYSE:AIN) by 72.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,114 shares of the textile maker’s stock after purchasing an additional 3,827 shares during the quarter. Intech Investment Management LLC’s holdings in Albany International were worth $810,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in Albany International by 5,971.5% in the 2nd quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock valued at $57,755,000 after purchasing an additional 672,631 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Albany International by 60.5% during the third 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 during the last quarter. Earnest Partners LLC raised its holdings in Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after acquiring an additional 53,743 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 52,909 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Albany International by 176.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock worth $5,650,000 after purchasing an additional 42,740 shares during the period. 97.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Albany International

In related news, SVP Robert Alan Hansen bought 1,050 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $71.26 per share, for a total transaction of $74,823.00. Following the acquisition, the senior vice president now owns 8,387 shares in the company, valued at $597,657.62. This represents a 14.31 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Joseph M. Gaug purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was bought at an average price of $71.24 per share, with a total value of $71,240.00. Following the acquisition, the vice president now owns 6,811 shares in the company, valued at $485,215.64. This trade represents a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 3,450 shares of company stock worth $245,813. 0.76% of the stock is currently owned by corporate insiders.

Albany International Stock Performance

Albany International stock opened at $82.90 on Friday. 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 12 month low of $67.39 and a 12 month high of $99.41. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 25.91 and a beta of 1.29. The stock’s 50-day moving average is $78.53 and its 200-day moving average is $84.44.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $304.51 million. During the same period in the previous year, the company posted $1.02 earnings per share. Albany International’s revenue was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AIN. Truist Financial reduced their target price on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Bank of America cut their price objective 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. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, 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 research note on Friday, October 4th. One research 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $85.50.

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.