Advantage Alpha Capital Partners LP Sells 10,289 Shares of Albany International Corp. (NYSE:AIN)

Advantage Alpha Capital Partners LP lowered its holdings in Albany International Corp. (NYSE:AIN) by 30.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,857 shares of the textile maker’s stock after selling 10,289 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Albany International were worth $2,120,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AIN shares. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Bank of America reduced their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. Truist Financial dropped their price target on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, TD Cowen reduced their price objective 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. 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $85.50.

Insider Buying and Selling at Albany International

In related news, VP Joseph M. Gaug acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of $71.24 per share, with a total value of $71,240.00. Following the acquisition, the vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gunnar Kleveland bought 1,400 shares of Albany International stock in a transaction on Tuesday, November 5th. The shares were bought at an average cost of $71.25 per share, with a total value of $99,750.00. Following the acquisition, the chief executive officer now directly owns 8,284 shares in the company, valued at approximately $590,235. This represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,450 shares of company stock valued at $245,813 over the last three months. 0.92% of the stock is currently owned by insiders.

Albany International Stock Up 1.7 %

Albany International stock opened at $86.24 on Tuesday. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $2.70 billion, a P/E ratio of 26.95 and a beta of 1.29. The firm has a 50 day moving average price of $78.89 and a 200-day moving average price of $84.56. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $99.41.

Albany International (NYSE:AIN) last released its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. During the same period last year, the business posted $1.02 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts predict that Albany International Corp. will post 3.23 EPS for the current year.

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.