Linden Thomas Advisory Services LLC Purchases 1,107 Shares of Albany International Corp. (NYSE:AIN)

Linden Thomas Advisory Services LLC raised its position in Albany International Corp. (NYSE:AIN) by 18.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,014 shares of the textile maker’s stock after buying an additional 1,107 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Albany International were worth $561,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AIN. Quarry LP raised its position in shares of Albany International by 515.4% during the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after acquiring an additional 402 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Albany International by 33.4% during the third quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock worth $80,000 after acquiring an additional 225 shares during the last quarter. KBC Group NV raised its position in shares of Albany International by 28.9% during the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after acquiring an additional 237 shares during the last quarter. Central Pacific Bank Trust Division raised its position in shares of Albany International by 40.3% during the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after acquiring an additional 570 shares during the last quarter. Finally, Bridges Investment Management Inc. bought a new position in shares of Albany International during the third quarter worth about $206,000. 97.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AIN shares. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday. TD Cowen raised Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. Truist Financial raised their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Bank of America decreased their target price on 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 analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.75.

Albany International Trading Up 0.1 %

Shares of Albany International stock opened at $80.90 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International Corp. has a 52 week low of $67.39 and a 52 week high of $98.73. The stock has a 50 day moving average price of $81.39 and a two-hundred day moving average price of $83.03. The stock has a market capitalization of $2.53 billion, a PE ratio of 25.28 and a beta of 1.35.

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 analysts’ consensus estimates of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. 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 firm posted $1.02 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Albany International Corp. will post 3.24 earnings per share for the current fiscal year.

Albany International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Tuesday, December 17th. This is a boost from Albany International’s previous quarterly dividend of $0.26. Albany International’s dividend payout ratio (DPR) is 33.75%.

Insider Buying and Selling at Albany International

In related news, 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 transaction, the senior vice president now directly owns 8,387 shares in the company, valued at approximately $597,657.62. This represents a 14.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph M. Gaug bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the transaction, the vice president now owns 6,811 shares of the company’s stock, valued at $485,215.64. The trade was a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 3,450 shares of company stock valued at $245,813. Company 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.