Albany International Corp. (NYSE:AIN) Shares Purchased by Diversified Trust Co

Diversified Trust Co increased its stake in shares of Albany International Corp. (NYSE:AINFree Report) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,701 shares of the textile maker’s stock after acquiring an additional 551 shares during the quarter. Diversified Trust Co’s holdings in Albany International were worth $856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Creative Planning raised its stake in Albany International by 3.0% during the 2nd quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock worth $424,000 after acquiring an additional 147 shares in the last quarter. Arizona State Retirement System grew its position in Albany International by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock worth $738,000 after purchasing an additional 175 shares during the last quarter. Gabelli Funds LLC grew its position in Albany International by 0.4% during the 2nd quarter. Gabelli Funds LLC now owns 52,600 shares of the textile maker’s stock worth $4,442,000 after purchasing an additional 200 shares during the last quarter. Mackenzie Financial Corp grew its position in Albany International by 5.4% during the 2nd quarter. Mackenzie Financial Corp now owns 4,212 shares of the textile maker’s stock worth $356,000 after purchasing an additional 215 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Albany International by 33.4% during the 3rd quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock worth $80,000 after purchasing an additional 225 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Stock Up 0.9 %

Shares of NYSE:AIN opened at $81.47 on Friday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 25.46 and a beta of 1.35. The firm’s 50-day simple moving average is $80.61 and its 200-day simple moving average is $83.24. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $98.73.

Albany International (NYSE:AINGet Free Report) last issued its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.35. The business had revenue of $298.40 million for the quarter, compared to the consensus estimate of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 earnings per share. As a group, equities research analysts predict that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were paid a $0.27 dividend. This is a boost from Albany International’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, December 17th. This represents a $1.08 annualized dividend and a dividend yield of 1.33%. Albany International’s dividend payout ratio (DPR) is 33.75%.

Insider Activity at Albany International

In related news, VP Joseph M. Gaug acquired 1,000 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of $71.24 per share, for a total transaction of $71,240.00. Following the completion of the purchase, the vice president now directly owns 6,811 shares of the company’s stock, valued at approximately $485,215.64. This trade represents a 17.21 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Alan Hansen acquired 1,050 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average price 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 trade represents a 14.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 3,450 shares of company stock worth $245,813 over the last 90 days. Company insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AIN. Truist Financial lowered their price objective on shares of 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 lowered their price objective on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. TD Cowen raised shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Albany International has a consensus rating of “Moderate Buy” and a consensus price target of $85.50.

Read Our Latest Research Report on AIN

About Albany International

(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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