Albany International Corp. (NYSE:AIN) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in Albany International Corp. (NYSE:AIN) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,338 shares of the textile maker’s stock after selling 146 shares during the period. Maryland State Retirement & Pension System’s holdings in Albany International were worth $1,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AIN. Arizona State Retirement System lifted its position in Albany International by 1.5% in the third quarter. Arizona State Retirement System now owns 8,883 shares of the textile maker’s stock valued at $766,000 after buying an additional 129 shares during the last quarter. HighTower Advisors LLC increased its holdings in Albany International by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 16,134 shares of the textile maker’s stock valued at $1,401,000 after purchasing an additional 156 shares during the last quarter. MQS Management LLC raised its position in Albany International by 2.4% in the third quarter. MQS Management LLC now owns 6,584 shares of the textile maker’s stock valued at $568,000 after purchasing an additional 156 shares during the period. Inspire Investing LLC lifted its stake in Albany International by 4.9% during the third quarter. Inspire Investing LLC now owns 3,543 shares of the textile maker’s stock worth $306,000 after purchasing an additional 167 shares in the last quarter. Finally, Strs Ohio boosted its position in shares of Albany International by 22.2% during the fourth quarter. Strs Ohio now owns 1,100 shares of the textile maker’s stock worth $108,000 after buying an additional 200 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Albany International

In related news, CEO Gunnar Kleveland acquired 1,250 shares of Albany International stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $84.68 per share, for a total transaction of $105,850.00. Following the transaction, the chief executive officer now owns 6,884 shares of the company’s stock, valued at $582,937.12. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Gunnar Kleveland bought 1,250 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $84.68 per share, for a total transaction of $105,850.00. Following the completion of the transaction, the chief executive officer now owns 6,884 shares of the company’s stock, valued at $582,937.12. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert D. Starr bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $84.44 per share, with a total value of $84,440.00. Following the completion of the transaction, the chief financial officer now owns 2,610 shares in the company, valued at $220,388.40. The disclosure for this purchase can be found here. 0.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AIN has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Truist Financial dropped their price objective on shares of Albany International from $121.00 to $104.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. TD Cowen reduced their target price on shares of Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Bank of America restated an “underperform” rating and issued a $95.00 price target (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Albany International Trading Up 0.4 %

NYSE AIN opened at $87.89 on Thursday. Albany International Corp. has a 52 week low of $78.20 and a 52 week high of $99.41. The firm has a 50 day moving average of $90.32 and a two-hundred day moving average of $89.69. The stock has a market capitalization of $2.74 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.21 and a beta of 1.28. The company has a quick ratio of 3.20, a current ratio of 3.99 and a debt-to-equity ratio of 0.45.

Albany International (NYSE:AIN) last posted its earnings results on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $313.33 million for the quarter, compared to analyst estimates of $313.41 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. Albany International’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. As a group, research analysts expect that Albany International Corp. will post 3.89 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s payout ratio is 29.21%.

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.