2,753 Shares in Albany International Corp. (NYSE:AIN) Acquired by Entropy Technologies LP

Entropy Technologies LP acquired a new stake in Albany International Corp. (NYSE:AIN) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,753 shares of the textile maker’s stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after acquiring an additional 145 shares in the last quarter. Hilltop National Bank increased its position in Albany International by 14.7% in the 2nd 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. SG Americas Securities LLC purchased a new stake in shares of Albany International during the 1st quarter worth about $102,000. EntryPoint Capital LLC lifted its holdings in shares of Albany International by 69.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,931 shares of the textile maker’s stock valued at $181,000 after buying an additional 794 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its stake in shares of Albany International by 40.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock valued at $176,000 after buying an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Wall Street Analysts Forecast Growth

AIN has been the subject of a number of analyst reports. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial decreased their price objective on shares of Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, November 1st. TD Cowen cut their target price on Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Bank of America decreased their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Albany International has an average rating of “Hold” and an average price target of $85.50.

Albany International Stock Performance

Shares of AIN opened at $80.09 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. Albany International Corp. has a one year low of $67.39 and a one year high of $99.41. The company’s fifty day moving average price is $79.06 and its 200 day moving average price is $84.66. The company has a market capitalization of $2.51 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 2.66 and a beta of 1.29.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.35. The business had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm’s 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 EPS. As a group, analysts expect that Albany International Corp. will post 3.2 earnings per share for the current year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is currently 32.50%.

Insider Activity at Albany International

In other news, VP Joseph M. Gaug purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average cost 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. The trade was a 17.21 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert Alan Hansen purchased 1,050 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average cost of $71.26 per share, with a total value of $74,823.00. Following the acquisition, the senior vice president now owns 8,387 shares in the company, valued at approximately $597,657.62. This represents a 14.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 3,450 shares of company stock worth $245,813 in the last ninety days. 0.76% of the stock is currently owned by insiders.

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.