Nuveen Asset Management LLC Sells 3,059 Shares of Albany International Corp. (NYSE:AIN)

Nuveen Asset Management LLC decreased its position in Albany International Corp. (NYSE:AIN – Get Rating) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 106,542 shares of the textile maker’s stock after selling 3,059 shares during the quarter. Nuveen Asset Management LLC’s holdings in Albany International were worth $8,399,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake in Albany International by 110.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 809 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 425 shares during the period. Lazard Asset Management LLC bought a new position in Albany International during the 2nd quarter valued at about $77,000. Eagle Bay Advisors LLC lifted its stake in Albany International by 121.3% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,193 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 654 shares during the period. Captrust Financial Advisors lifted its stake in Albany International by 89.0% during the 1st quarter. Captrust Financial Advisors now owns 1,380 shares of the textile maker’s stock valued at $117,000 after acquiring an additional 650 shares during the period. Finally, Ronald Blue Trust Inc. bought a new position in Albany International during the 2nd quarter valued at about $125,000. Institutional investors own 99.94% of the company’s stock.

Insider Transactions at Albany International

In other news, SVP Robert Alan Hansen sold 1,900 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $101.93, for a total value of $193,667.00. Following the transaction, the senior vice president now owns 11,504 shares in the company, valued at approximately $1,172,602.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

Albany International Price Performance

AIN opened at $92.97 on Friday. The company’s 50-day simple moving average is $104.57 and its two-hundred day simple moving average is $96.59. Albany International Corp. has a 52-week low of $75.24 and a 52-week high of $115.39. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.31 and a current ratio of 3.97. The stock has a market capitalization of $2.89 billion, a P/E ratio of 30.58, a P/E/G ratio of 3.47 and a beta of 1.34.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Friday, March 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, March 16th. Albany International’s dividend payout ratio (DPR) is presently 32.89%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial upped their target price on shares of Albany International from $80.00 to $85.00 in a research note on Monday, January 9th.

About Albany International

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Albany International Corp. engages in textiles and materials processing. It operates through the following segments: Machine Clothing and Albany Engineered Composites. The Machine Clothing segment supplies fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries.