SG Americas Securities LLC Purchases Shares of 3,919 Albany International Corporation $AIN

SG Americas Securities LLC acquired a new position in Albany International Corporation (NYSE:AIN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,919 shares of the textile maker’s stock, valued at approximately $275,000.

Several other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Albany International during the first quarter worth $18,985,000. Entropy Technologies LP purchased a new position in Albany International in the first quarter valued at $407,000. Jump Financial LLC acquired a new position in shares of Albany International in the first quarter worth about $1,740,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Albany International during the 1st quarter worth about $416,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Albany International during the 2nd quarter valued at about $673,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AIN has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Albany International in a report on Tuesday. Truist Financial reduced their target price on Albany International from $55.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Finally, Zacks Research lowered shares of Albany International from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Albany International presently has a consensus rating of “Reduce” and an average target price of $64.25.

Insider Activity

In other news, CEO Gunnar Kleveland purchased 2,300 shares of Albany International stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $42.04 per share, with a total value of $96,692.00. Following the transaction, the chief executive officer owned 19,895 shares in the company, valued at $836,385.80. This represents a 13.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is owned by corporate insiders.

Albany International Stock Up 0.6%

Shares of AIN opened at $47.68 on Friday. Albany International Corporation has a 52-week low of $41.15 and a 52-week high of $85.19. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $52.67 and a two-hundred day simple moving average of $61.20. The company has a market capitalization of $1.37 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.36 and a beta of 1.39.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, May 25th. The textile maker reported $0.43 earnings per share (EPS) for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The firm had revenue of $239.92 million during the quarter. As a group, equities analysts forecast that Albany International Corporation will post 3.23 EPS for the current year.

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.