Gilman Hill Asset Management LLC Trims Position in Albany International Corp. (NYSE:AIN)

Gilman Hill Asset Management LLC decreased its holdings in Albany International Corp. (NYSE:AIN) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,188 shares of the textile maker’s stock after selling 4,061 shares during the quarter. Gilman Hill Asset Management LLC owned about 0.12% of Albany International worth $2,974,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock worth $108,544,000 after acquiring an additional 36,944 shares in the last quarter. MQS Management LLC purchased a new stake in Albany International in the third quarter worth $800,000. JPMorgan Chase & Co. raised its holdings in Albany International by 14.0% in the third quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker’s stock worth $7,163,000 after purchasing an additional 9,931 shares in the last quarter. Natixis Advisors LLC lifted its position in Albany International by 5.4% during the third quarter. Natixis Advisors LLC now owns 239,697 shares of the textile maker’s stock valued at $21,297,000 after buying an additional 12,262 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Albany International by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock valued at $52,071,000 after buying an additional 36,274 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Price Performance

Shares of AIN opened at $81.36 on Monday. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $98.73. The company has a market capitalization of $2.55 billion, a P/E ratio of 25.42 and a beta of 1.35. The firm has a 50 day moving average of $81.40 and a 200 day moving average of $83.07. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, October 30th. The textile maker reported $0.80 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 analyst estimates of $304.51 million. During the same quarter last year, the company earned $1.02 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Albany International Corp. will post 3.24 earnings per share for the current fiscal year.

Albany International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This is a positive change from Albany International’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.33%. Albany International’s payout ratio is currently 33.75%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AIN. Bank of America decreased their price target on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Truist Financial boosted their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $80.75.

Insider Activity

In other news, SVP Robert Alan Hansen bought 1,050 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were acquired at an average cost of $71.26 per share, with a total value of $74,823.00. Following the completion of the transaction, the senior vice president now owns 8,387 shares of the company’s stock, valued at approximately $597,657.62. This trade represents a 14.31 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joseph M. Gaug purchased 1,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $71.24 per share, with a total value of $71,240.00. Following the completion of the purchase, the vice president now owns 6,811 shares in the company, valued at approximately $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 purchased 3,450 shares of company stock valued at $245,813 over the last three months. Insiders own 0.76% of the company’s stock.

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.