Albany International Corp. (NYSE:AIN) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its stake in Albany International Corp. (NYSE:AIN) by 10.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,572 shares of the textile maker’s stock after selling 1,491 shares during the quarter. BNP Paribas Financial Markets’ holdings in Albany International were worth $1,117,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AIN. GAMMA Investing LLC lifted its holdings in Albany International by 33.4% in the third 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 period. KBC Group NV lifted its holdings in Albany International by 28.9% in 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 last quarter. Central Pacific Bank Trust Division lifted its holdings in 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 acquiring an additional 570 shares during the last quarter. Bridges Investment Management Inc. acquired a new stake in Albany International in the 3rd quarter valued at about $206,000. Finally, Versor Investments LP acquired a new stake in Albany International in the 2nd quarter valued at about $236,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Insider Activity

In other Albany International news, CEO Gunnar Kleveland bought 1,400 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were bought at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the acquisition, the chief executive officer now directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, VP Joseph M. Gaug bought 1,000 shares of the company’s stock in a transaction dated 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 acquisition, the vice president now directly owns 6,811 shares in the company, valued at $485,215.64. This trade represents a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 3,450 shares of company stock worth $245,813 in the last 90 days. Company insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AIN shares. Truist Financial cut their price target 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. Bank of America cut their price target on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, TD Cowen cut their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $85.50.

Albany International Price Performance

AIN stock opened at $82.60 on Wednesday. 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 one year low of $67.39 and a one year high of $99.41. The firm has a market capitalization of $2.59 billion, a PE ratio of 25.81 and a beta of 1.34. The firm has a 50-day moving average of $77.84 and a two-hundred day moving average of $83.98.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating 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 prior year, the firm earned $1.02 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th will be issued a $0.27 dividend. This is an increase from Albany International’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, December 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.31%. Albany International’s dividend payout ratio is currently 33.75%.

Albany International 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.