Integrated Investment Consultants LLC Sells 177 Shares of Albany International Corp. (NYSE:AIN)

Integrated Investment Consultants LLC reduced its position in Albany International Corp. (NYSE:AIN) by 3.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,670 shares of the textile maker’s stock after selling 177 shares during the period. Integrated Investment Consultants LLC’s holdings in Albany International were worth $415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after acquiring an additional 145 shares during the last quarter. Hilltop National Bank lifted its holdings in shares of Albany International by 14.7% during the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after purchasing an additional 134 shares during the last quarter. KBC Group NV lifted its holdings 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 valued at $94,000 after purchasing an additional 237 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Albany International in the 1st quarter worth $102,000. Finally, Central Pacific Bank Trust Division grew its stake in Albany International by 40.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after buying an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

AIN opened at $84.78 on Friday. 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 firm has a 50 day moving average of $78.90 and a two-hundred day moving average of $84.64. The firm has a market capitalization of $2.65 billion, a PE ratio of 26.49, a P/E/G ratio of 2.69 and a beta of 1.29.

Albany International (NYSE:AIN) last issued 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 firm had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter last year, the company posted $1.02 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, analysts anticipate that Albany International Corp. will post 3.23 EPS for the current year.

Insider Activity

In other news, VP Joseph M. Gaug acquired 1,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the vice president now owns 6,811 shares in the company, valued at approximately $485,215.64. The trade was a 17.21 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gunnar Kleveland bought 1,400 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the chief executive officer now directly owns 8,284 shares in the company, valued at approximately $590,235. This trade represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 3,450 shares of company stock valued at $245,813 in the last quarter. 0.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on AIN. StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research note on Thursday. Truist Financial lowered 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. TD Cowen cut their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Finally, Bank of America lowered their price objective 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. One investment 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. According to data from MarketBeat.com, Albany International currently has a consensus rating of “Hold” and an average price target of $85.50.

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.