Albany International Corp. (NYSE:AIN) Stock Holdings Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of Albany International Corp. (NYSE:AIN) by 24.0% in the 3rd quarter, Holdings Channel reports. The fund owned 847,829 shares of the textile maker’s stock after buying an additional 163,934 shares during the period. Victory Capital Management Inc.’s holdings in Albany International were worth $75,330,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in Albany International in the 1st quarter valued at about $102,000. Russell Investments Group Ltd. grew its position in Albany International by 3,897.2% in the 1st quarter. Russell Investments Group Ltd. now owns 2,878 shares of the textile maker’s stock valued at $269,000 after buying an additional 2,806 shares in the last quarter. ProShare Advisors LLC grew its position in Albany International by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 6,308 shares of the textile maker’s stock valued at $590,000 after buying an additional 433 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Albany International by 36.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,172 shares of the textile maker’s stock valued at $1,088,000 after buying an additional 3,233 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after buying an additional 11,052 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

NYSE:AIN opened at $82.11 on Thursday. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $99.41. 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 company has a 50-day moving average of $79.27 and a 200-day moving average of $84.71. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 2.63 and a beta of 1.29.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating 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 company had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. During the same quarter last year, the firm posted $1.02 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts forecast that Albany International Corp. will post 3.2 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is currently 32.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AIN. StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Cowen decreased their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, Truist Financial decreased 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 report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Albany International has a consensus rating of “Hold” and a consensus price target of $88.00.

Insider Transactions at Albany International

In other news, SVP Robert Alan Hansen bought 1,050 shares of the company’s stock in a transaction dated 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 directly owns 8,387 shares in the company, valued at approximately $597,657.62. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Joseph M. Gaug bought 1,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average cost of $71.24 per share, with a total value of $71,240.00. Following the completion of the transaction, the vice president now directly owns 6,811 shares in the company, valued at approximately $485,215.64. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert Alan Hansen bought 1,050 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average cost of $71.26 per share, for a total transaction 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 $597,657.62. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 3,450 shares of company stock valued at $245,813 over the last ninety days. Corporate insiders own 0.76% of the company’s stock.

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.