Inspire Investing LLC Grows Stock Holdings in Albany International Corp. (NYSE:AIN)

Inspire Investing LLC lifted its position in Albany International Corp. (NYSE:AINFree Report) by 7.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,004 shares of the textile maker’s stock after purchasing an additional 334 shares during the quarter. Inspire Investing LLC’s holdings in Albany International were worth $400,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Quarry LP boosted its stake in Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after buying an additional 402 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Albany International by 33.4% in the 3rd quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 225 shares during the last quarter. KBC Group NV boosted its holdings in Albany International by 28.9% during the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 237 shares during the period. Central Pacific Bank Trust Division grew its position in Albany International by 40.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after acquiring an additional 570 shares during the last quarter. Finally, Bridges Investment Management Inc. purchased a new position in Albany International in the 3rd quarter worth approximately $206,000. 97.37% of the stock is currently owned by institutional investors.

Albany International Trading Up 0.1 %

NYSE AIN opened at $80.90 on Monday. The stock’s fifty day moving average price is $81.39 and its 200-day moving average price is $83.03. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.53 billion, a P/E ratio of 25.28 and a beta of 1.35. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $98.73.

Albany International (NYSE:AINGet Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping 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 company had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. During the same period in the previous year, the business earned $1.02 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts forecast that Albany International Corp. will post 3.24 EPS for the current fiscal 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 given a dividend of $0.27 per share. This is an increase from Albany International’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.08 dividend on an annualized basis and a yield of 1.33%. Albany International’s dividend payout ratio is 33.75%.

Insider Activity

In other Albany International news, SVP Robert Alan Hansen bought 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average cost of $71.26 per share, for a total transaction of $74,823.00. Following the completion of the transaction, the senior vice president now owns 8,387 shares of the company’s stock, valued at $597,657.62. This represents a 14.31 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph M. Gaug purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was acquired at an average price of $71.24 per share, for a total transaction of $71,240.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Insiders have bought 3,450 shares of company stock valued at $245,813 in the last ninety days. 0.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AIN shares. Truist Financial raised their target price on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America reduced 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. Finally, TD Cowen raised Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.75.

View Our Latest Stock 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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