2,753 Shares in Albany International Corp. (NYSE:AIN) Acquired by Entropy Technologies LP

Entropy Technologies LP purchased a new stake in Albany International Corp. (NYSE:AIN) during the third quarter, Holdings Channel reports. The firm purchased 2,753 shares of the textile maker’s stock, valued at approximately $245,000.

Several other hedge funds have also recently bought and sold shares of the stock. Hilltop National Bank boosted its stake in shares of Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after purchasing an additional 134 shares in the last quarter. GAMMA Investing LLC grew its stake in Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after buying an additional 145 shares during the last quarter. Creative Planning increased its holdings in shares of Albany International by 3.0% during the second quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock worth $424,000 after buying an additional 147 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Albany International by 2.0% in the second quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock valued at $738,000 after acquiring an additional 175 shares during the last quarter. Finally, Dakota Wealth Management boosted its holdings in shares of Albany International by 1.5% in the 2nd quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock worth $1,116,000 after acquiring an additional 195 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Robert Alan Hansen bought 1,050 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were purchased 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 of the company’s stock, valued at $597,657.62. This represents a 14.31 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gunnar Kleveland bought 1,400 shares of Albany International stock in a transaction on Tuesday, November 5th. The shares were bought at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the acquisition, the chief executive officer now owns 8,284 shares of the company’s stock, valued at approximately $590,235. The trade was a 20.34 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,450 shares of company stock valued at $245,813 in the last 90 days. 0.76% of the stock is owned by company insiders.

Albany International Price Performance

Albany International stock opened at $80.09 on Friday. The business’s 50-day simple moving average is $79.06 and its 200 day simple moving average is $84.66. 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 market cap of $2.51 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 2.66 and a beta of 1.29. Albany International Corp. has a 12-month low of $67.39 and a 12-month high of $99.41.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.45 by $0.35. The company had revenue of $298.40 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.02 EPS. As a group, research analysts anticipate that Albany International Corp. will post 3.2 earnings per share for the current year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s payout ratio is 32.50%.

Analyst Upgrades and Downgrades

AIN has been the subject of several research analyst reports. TD Cowen cut their price objective on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Bank of America lowered 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. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Truist Financial lowered their price objective 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 given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.50.

Albany International 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.