Integrated Investment Consultants LLC Purchases 155 Shares of Albany International Corp. (NYSE:AIN)

Integrated Investment Consultants LLC raised its position in Albany International Corp. (NYSE:AIN) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,825 shares of the textile maker’s stock after buying an additional 155 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Albany International were worth $386,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AIN. Quarry LP grew its position in shares of Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 402 shares in the last quarter. 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 in the last quarter. KBC Group NV grew its position in shares of Albany International by 28.9% in the third 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 in the last quarter. Central Pacific Bank Trust Division grew its position in shares of Albany International by 40.3% in the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 570 shares in the last quarter. Finally, Bridges Investment Management Inc. purchased a new position in shares of Albany International in the third quarter valued at $206,000. 97.37% of the stock is currently owned by institutional investors.

Insider Activity at Albany International

In related news, CEO Gunnar Kleveland bought 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average cost of $71.25 per share, for a total transaction 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. The trade was a 20.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph M. Gaug acquired 1,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was acquired at an average price of $71.24 per share, with a total value of $71,240.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. Insiders purchased 3,450 shares of company stock worth $245,813 in the last ninety days. 0.92% of the stock is owned by company insiders.

Albany International Price Performance

Shares of Albany International stock opened at $81.36 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. The firm has a market capitalization of $2.55 billion, a PE ratio of 25.42 and a beta of 1.35. The business’s 50-day moving average price is $81.40 and its 200-day moving average price is $83.07. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $98.73.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.45 by $0.35. The firm had revenue of $298.40 million for 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%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.02 EPS. Sell-side analysts forecast that Albany International Corp. will post 3.24 EPS for the current fiscal year.

Albany International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were issued a dividend of $0.27 per share. The ex-dividend date was Tuesday, December 17th. This is a boost from Albany International’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 1.33%. Albany International’s dividend payout ratio is currently 33.75%.

Analyst Ratings Changes

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

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.