Albany International Corp. (NYSE:AIN) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its holdings in shares of Albany International Corp. (NYSE:AIN – Get Rating) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,152 shares of the textile maker’s stock after selling 125 shares during the period. HighTower Advisors LLC owned 0.07% of Albany International worth $2,181,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Albany International by 1.1% during the first quarter. BlackRock Inc. now owns 4,948,017 shares of the textile maker’s stock worth $417,218,000 after acquiring an additional 51,597 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Albany International by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,444,386 shares of the textile maker’s stock worth $290,431,000 after acquiring an additional 30,652 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Albany International by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,151,310 shares of the textile maker’s stock worth $97,080,000 after acquiring an additional 29,943 shares during the last quarter. State Street Corp grew its position in shares of Albany International by 0.5% during the third quarter. State Street Corp now owns 1,082,808 shares of the textile maker’s stock worth $85,587,000 after acquiring an additional 5,426 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Albany International by 0.4% during the first quarter. Clearbridge Investments LLC now owns 541,742 shares of the textile maker’s stock worth $45,680,000 after acquiring an additional 1,926 shares during the last quarter. 99.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Robert Alan Hansen sold 1,900 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $101.93, for a total transaction of $193,667.00. Following the completion of the transaction, the senior vice president now owns 11,504 shares in the company, valued at approximately $1,172,602.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.76% of the company’s stock.

Albany International Stock Performance

Shares of AIN opened at $88.08 on Wednesday. The firm has a 50-day moving average price of $89.73 and a 200 day moving average price of $98.10. The firm has a market capitalization of $2.75 billion, a PE ratio of 29.07, a P/E/G ratio of 3.12 and a beta of 1.31. The company has a quick ratio of 3.98, a current ratio of 4.82 and a debt-to-equity ratio of 0.55. Albany International Corp. has a 52-week low of $75.24 and a 52-week high of $115.39.

Albany International (NYSE:AIN – Get Rating) last announced its earnings results on Wednesday, April 26th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $269.10 million during the quarter, compared to analyst estimates of $255.14 million. Albany International had a net margin of 8.96% and a return on equity of 14.14%. Albany International’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. On average, sell-side analysts anticipate that Albany International Corp. will post 3.66 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Wednesday, June 7th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. Albany International’s dividend payout ratio (DPR) is 33.00%.

Wall Street Analyst Weigh In

AIN has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Albany International in a research report on Thursday, May 18th. They set a “buy” rating for the company. Truist Financial upgraded shares of Albany International from a “hold” rating to a “buy” rating and upped their price target for the stock from $90.00 to $105.00 in a research report on Thursday, April 27th. They noted that the move was a valuation call.

Albany International Company Profile

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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.