Albany International Corp. (NYSE:AIN) Stake Raised by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Albany International Corp. (NYSE:AIN) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,233 shares of the textile maker’s stock after acquiring an additional 34,890 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Albany International were worth $20,171,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Integrated Investment Consultants LLC increased its stake in Albany International by 3.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock valued at $386,000 after buying an additional 155 shares during the period. Procyon Advisors LLC purchased a new position in shares of Albany International during the 4th quarter valued at $365,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Albany International in the fourth quarter worth $226,000. Diversified Trust Co raised its holdings in shares of Albany International by 5.4% during the fourth quarter. Diversified Trust Co now owns 10,701 shares of the textile maker’s stock worth $856,000 after acquiring an additional 551 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in Albany International by 16.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after purchasing an additional 320 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Insider Buying and Selling at Albany International

In related news, CEO Gunnar Kleveland acquired 1,400 shares of the 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 purchase, the chief executive officer now owns 8,284 shares in the company, valued at approximately $590,235. The trade was a 20.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert Alan Hansen bought 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $71.26 per share, with a total value of $74,823.00. Following the completion of the purchase, the senior vice president now owns 8,387 shares in the company, valued at approximately $597,657.62. The trade was a 14.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 3,450 shares of company stock valued at $245,813 in the last 90 days. 0.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Albany International Stock Down 1.6 %

Shares of Albany International stock opened at $81.25 on Thursday. Albany International Corp. has a 12-month low of $67.39 and a 12-month high of $98.73. The stock has a market capitalization of $2.54 billion, a P/E ratio of 25.39 and a beta of 1.35. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $81.37 and a two-hundred day moving average price of $83.05.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. The business had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. Albany International’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $1.02 EPS. Equities analysts expect that Albany International Corp. will post 3.24 earnings per share for the current year.

Albany International Increases Dividend

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

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.