Whittier Trust Co. Buys 266 Shares of Albany International Corp. (NYSE:AIN)

Whittier Trust Co. boosted its position in Albany International Corp. (NYSE:AINFree Report) by 94.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 547 shares of the textile maker’s stock after acquiring an additional 266 shares during the period. Whittier Trust Co.’s holdings in Albany International were worth $51,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Diversified Trust Co increased its position in shares of Albany International by 52.4% during the 3rd quarter. Diversified Trust Co now owns 6,250 shares of the textile maker’s stock valued at $539,000 after purchasing an additional 2,150 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Albany International by 12.1% in the third quarter. Wellington Management Group LLP now owns 468,190 shares of the textile maker’s stock worth $40,395,000 after buying an additional 50,653 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Albany International in the fourth quarter worth about $231,000. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Albany International in the 4th quarter valued at about $12,803,000. Finally, Fifth Third Bancorp grew its position in Albany International by 31.6% during the 4th quarter. Fifth Third Bancorp now owns 20,808 shares of the textile maker’s stock worth $2,044,000 after acquiring an additional 4,994 shares during the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Albany International

In related news, CEO Gunnar Kleveland purchased 1,250 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $84.68 per share, with a total value of $105,850.00. Following the transaction, the chief executive officer now directly owns 6,884 shares in the company, valued at approximately $582,937.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Albany International news, CEO Gunnar Kleveland purchased 1,250 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $84.68 per share, for a total transaction of $105,850.00. Following the completion of the purchase, the chief executive officer now directly owns 6,884 shares of the company’s stock, valued at $582,937.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert D. Starr bought 1,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $84.44 per share, with a total value of $84,440.00. Following the transaction, the chief financial officer now owns 2,610 shares in the company, valued at approximately $220,388.40. The disclosure for this purchase can be found here. Insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

AIN has been the subject of several recent research reports. Bank of America lowered their price objective on Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a research report on Wednesday, May 29th. Truist Financial lowered their price target on shares of Albany International from $121.00 to $104.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, TD Cowen lowered their price objective on shares of Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Albany International presently has a consensus rating of “Moderate Buy” and an average target price of $101.00.

View Our Latest Analysis on AIN

Albany International Trading Up 0.1 %

Shares of AIN opened at $81.40 on Wednesday. Albany International Corp. has a 1-year low of $78.20 and a 1-year high of $99.41. The company has a current ratio of 3.99, a quick ratio of 3.20 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $86.05 and its 200-day moving average price is $89.51. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.43 and a beta of 1.27.

Albany International (NYSE:AINGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The business had revenue of $313.33 million for the quarter, compared to analysts’ expectations of $313.41 million. During the same period in the previous year, the firm posted $0.91 EPS. The business’s revenue was up 16.4% on a year-over-year basis. Sell-side analysts anticipate that Albany International Corp. will post 3.8 EPS for the current year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 7th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, June 7th. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Albany International Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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