Albany International Corp. (NYSE:AIN) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its position in shares of Albany International Corp. (NYSE:AIN) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 636,254 shares of the textile maker’s stock after selling 17,166 shares during the period. Loomis Sayles & Co. L P owned approximately 2.03% of Albany International worth $56,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Albany International in the first quarter valued at approximately $102,000. Russell Investments Group Ltd. increased its position in shares of Albany International by 3,897.2% during the first quarter. Russell Investments Group Ltd. now owns 2,878 shares of the textile maker’s stock worth $269,000 after acquiring an additional 2,806 shares during the period. Vanguard Group Inc. raised its stake in shares of Albany International by 0.3% in the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after acquiring an additional 11,052 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Albany International by 9.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 28,687 shares of the textile maker’s stock valued at $2,677,000 after purchasing an additional 2,367 shares during the period. Finally, Quadrature Capital Ltd grew its stake in Albany International by 38.7% during the 1st quarter. Quadrature Capital Ltd now owns 8,835 shares of the textile maker’s stock worth $825,000 after purchasing an additional 2,463 shares in the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Albany International

In other Albany International news, SVP Robert Alan Hansen purchased 1,050 shares of Albany International stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average cost of $71.26 per share, with a total value of $74,823.00. Following the acquisition, the senior vice president now directly owns 8,387 shares of the company’s stock, valued at $597,657.62. This represents a 14.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph M. Gaug acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the acquisition, the vice president now directly owns 6,811 shares of the company’s stock, valued at $485,215.64. This trade represents a 17.21 % 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 worth $245,813 over the last ninety days. 0.92% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AIN. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Truist Financial dropped their price objective on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Bank of America lowered their target price 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. Finally, TD Cowen decreased their target price on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.50.

Albany International Trading Up 1.7 %

Shares of AIN stock opened at $86.24 on Tuesday. The company has a market capitalization of $2.70 billion, a P/E ratio of 26.49 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. The business’s 50 day moving average is $78.88 and its two-hundred day moving average is $84.58. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $99.41.

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 analysts’ consensus estimates 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 net margin of 7.92% and a return on equity of 12.20%. Albany International’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm posted $1.02 EPS. Equities analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

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.