Albany International Corp. (NYSE:AIN) Stock Position Lifted by Natixis Advisors LLC

Natixis Advisors LLC increased its stake in Albany International Corp. (NYSE:AIN) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,697 shares of the textile maker’s stock after purchasing an additional 12,262 shares during the quarter. Natixis Advisors LLC’s holdings in Albany International were worth $21,297,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AIN. Hilltop National Bank raised its position in shares of Albany International by 14.7% during the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after buying an additional 134 shares in the last quarter. GAMMA Investing LLC lifted its position in Albany International by 27.4% in the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after purchasing an additional 145 shares during the period. Creative Planning boosted 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 valued at $424,000 after purchasing an additional 147 shares in the last quarter. Arizona State Retirement System increased its position in shares of Albany International by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock valued at $738,000 after purchasing an additional 175 shares during the period. Finally, Dakota Wealth Management raised its stake in shares of Albany International by 1.5% in the 2nd quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock worth $1,116,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Price Performance

Shares of NYSE:AIN opened at $81.86 on Tuesday. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $99.41. The business has a fifty day simple moving average of $79.06 and a 200 day simple moving average of $84.68. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 2.60 and a beta of 1.29.

Albany International (NYSE:AIN) last issued its quarterly earnings data 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 firm had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 earnings per share. As a group, sell-side analysts predict that Albany International Corp. will post 3.2 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.27%. The ex-dividend date was Tuesday, September 3rd. Albany International’s payout ratio is 32.50%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. TD Cowen decreased their target price on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Bank of America dropped their target price on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday. Truist Financial reduced their target price on Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.50.

Insider Buying and Selling at Albany International

In other Albany International news, CEO Gunnar Kleveland acquired 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average price of $71.25 per share, with a total value of $99,750.00. Following the transaction, the chief executive officer now owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 20.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert Alan Hansen bought 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $71.26 per share, with a total value of $74,823.00. Following the completion of the purchase, the senior vice president now owns 8,387 shares in the company, valued at approximately $597,657.62. The trade was a 14.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,450 shares of company stock worth $245,813 over the last three months. Corporate insiders own 0.76% of the company’s stock.

Albany International Company Profile

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.