Albany International Corp. (NYSE:AIN) Holdings Reduced by Gabelli Funds LLC

Gabelli Funds LLC lessened its holdings in shares of Albany International Corp. (NYSE:AINFree Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,000 shares of the textile maker’s stock after selling 1,320 shares during the period. Gabelli Funds LLC’s holdings in Albany International were worth $5,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Earnest Partners LLC grew its stake in shares of Albany International by 2.0% in the third quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock worth $201,512,000 after purchasing an additional 45,158 shares in the last quarter. Norges Bank bought a new position in Albany International in the 4th quarter valued at about $33,273,000. Swiss National Bank increased its stake in Albany International by 1.0% during the 3rd quarter. Swiss National Bank now owns 68,600 shares of the textile maker’s stock valued at $5,919,000 after buying an additional 700 shares during the period. Sei Investments Co. raised its position in shares of Albany International by 12.7% during the 3rd quarter. Sei Investments Co. now owns 488,258 shares of the textile maker’s stock worth $42,127,000 after buying an additional 55,021 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Albany International by 12.1% in the third quarter. Wellington Management Group LLP now owns 468,190 shares of the textile maker’s stock valued at $40,395,000 after acquiring an additional 50,653 shares in the last quarter. 97.37% of the stock is owned by institutional investors.

Albany International Trading Down 2.0 %

NYSE AIN opened at $84.39 on Friday. The firm’s 50 day moving average price is $88.02 and its two-hundred day moving average price is $90.43. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.59 and a beta of 1.31. Albany International Corp. has a twelve month low of $78.20 and a twelve month high of $99.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.20 and a current ratio of 3.99.

Albany International (NYSE:AINGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $313.33 million for the quarter, compared to the consensus estimate of $313.41 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. Albany International’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. Equities analysts anticipate that Albany International Corp. will post 3.8 EPS for the current year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, June 7th. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Wall Street Analyst Weigh In

AIN has been the topic of several research analyst reports. Bank of America lowered their price target on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. JPMorgan Chase & Co. dropped their price target on shares of Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. TD Cowen lowered their price objective on shares of Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Truist Financial cut their target price on shares of Albany International from $121.00 to $104.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Albany International currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

Check Out Our Latest Report on Albany International

Insider Buying and Selling

In other Albany International news, CFO Robert D. Starr purchased 1,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $84.44 per share, with a total value of $84,440.00. Following the completion of the transaction, the chief financial officer now owns 2,610 shares in the company, valued at approximately $220,388.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gunnar Kleveland purchased 1,250 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $84.68 per share, for a total transaction of $105,850.00. Following the transaction, the chief executive officer now directly owns 6,884 shares of the company’s stock, valued at approximately $582,937.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert D. Starr acquired 1,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $84.44 per share, with a total value of $84,440.00. Following the transaction, the chief financial officer now directly owns 2,610 shares of the company’s stock, valued at approximately $220,388.40. The disclosure for this purchase can be found here. Insiders own 0.76% of the company’s stock.

Albany International Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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