Dynamic Technology Lab Private Ltd Purchases New Position in Albany International Corp. (NYSE:AIN)

Dynamic Technology Lab Private Ltd acquired a new position in Albany International Corp. (NYSE:AIN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,041 shares of the textile maker’s stock, valued at approximately $981,000.

Several other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Albany International by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 397,975 shares of the textile maker’s stock valued at $35,360,000 after purchasing an additional 15,120 shares in the last quarter. Intech Investment Management LLC lifted its position in Albany International by 72.4% during the third quarter. Intech Investment Management LLC now owns 9,114 shares of the textile maker’s stock valued at $810,000 after buying an additional 3,827 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Albany International by 5.4% during the 3rd 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 in the last quarter. KBC Group NV grew its position in shares of Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after buying an additional 237 shares during the period. Finally, MQS Management LLC bought a new position in shares of Albany International in the 3rd quarter worth about $800,000. 97.37% of the stock is owned by institutional investors.

Albany International Stock Down 0.8 %

Albany International stock opened at $82.40 on Thursday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 25.75 and a beta of 1.29. 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 12 month low of $67.39 and a 12 month high of $99.41. The stock has a fifty day simple moving average of $78.82 and a two-hundred day simple moving average of $84.52.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. The business had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. Albany International’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.02 EPS. Equities analysts predict that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AIN. Truist Financial cut their price objective on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Bank of America lowered their price objective on 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 dropped 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, StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Albany International has an average rating of “Hold” and a consensus target price of $85.50.

Insider Buying and Selling

In other news, VP Joseph M. Gaug purchased 1,000 shares of the company’s stock in a transaction dated 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 purchase, the vice president now directly owns 6,811 shares in the company, valued at approximately $485,215.64. This represents a 17.21 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gunnar Kleveland acquired 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average cost of $71.25 per share, with a total value of $99,750.00. Following the acquisition, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at $590,235. This trade represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 3,450 shares of company stock worth $245,813. 0.92% of the stock is 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.