Albany International Corp. (NYSE:AIN) Shares Acquired by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division increased its position in shares of Albany International Corp. (NYSE:AIN) by 16.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,305 shares of the textile maker’s stock after purchasing an additional 320 shares during the period. Central Pacific Bank Trust Division’s holdings in Albany International were worth $184,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP grew its holdings in shares of Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after acquiring an additional 402 shares during the period. GAMMA Investing LLC grew its position in shares of Albany International by 33.4% in the third quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock valued at $80,000 after purchasing an additional 225 shares during the last quarter. KBC Group NV increased its stake in shares of Albany International by 28.9% during the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after purchasing an additional 237 shares in the last quarter. Bridges Investment Management Inc. acquired a new position in shares of Albany International during the 3rd quarter worth approximately $206,000. Finally, Versor Investments LP purchased a new stake in Albany International in the 2nd quarter valued at approximately $236,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Truist Financial cut their target price on shares of Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Bank of America decreased their price target on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. Finally, TD Cowen raised shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.50.

Insider Activity at Albany International

In related news, SVP Robert Alan Hansen purchased 1,050 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average cost of $71.26 per share, for a total transaction 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 trade represents a 14.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph M. Gaug bought 1,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $71.24 per share, with a total value of $71,240.00. Following the purchase, the vice president now owns 6,811 shares of the company’s stock, valued at approximately $485,215.64. This represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,450 shares of company stock worth $245,813. 0.76% of the stock is owned by insiders.

Albany International Stock Up 2.2 %

Shares of NYSE:AIN opened at $80.97 on Friday. Albany International Corp. has a 12-month low of $67.39 and a 12-month high of $98.73. The stock’s 50-day moving average price is $80.06 and its two-hundred day moving average price is $83.33. 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 firm has a market cap of $2.53 billion, a price-to-earnings ratio of 25.30 and a beta of 1.35.

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 the consensus estimate of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. During the same period last year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be given a $0.27 dividend. This is a positive change from Albany International’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Tuesday, December 17th. Albany International’s dividend payout ratio (DPR) is 33.75%.

About Albany International

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.