Albany International Corporation $AIN Shares Purchased by XTX Topco Ltd

XTX Topco Ltd boosted its position in Albany International Corporation (NYSE:AIN) by 329.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 17,089 shares of the textile maker’s stock after purchasing an additional 13,112 shares during the period. XTX Topco Ltd’s holdings in Albany International were worth $1,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of AIN. American Century Companies Inc. raised its position in Albany International by 37.6% during the 2nd quarter. American Century Companies Inc. now owns 1,697,965 shares of the textile maker’s stock worth $119,079,000 after buying an additional 464,040 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Albany International by 1.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 961,513 shares of the textile maker’s stock worth $66,383,000 after acquiring an additional 13,251 shares during the period. Nuveen LLC purchased a new position in shares of Albany International during the first quarter worth $18,985,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Albany International by 15.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 156,378 shares of the textile maker’s stock worth $10,796,000 after purchasing an additional 20,458 shares during the last quarter. Finally, Select Equity Group L.P. lifted its position in Albany International by 784.2% during the first quarter. Select Equity Group L.P. now owns 126,262 shares of the textile maker’s stock valued at $8,717,000 after purchasing an additional 111,983 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

Insider Buying and Selling

In other Albany International news, CEO Gunnar Kleveland acquired 2,300 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost of $42.04 per share, for a total transaction of $96,692.00. Following the completion of the transaction, the chief executive officer directly owned 19,895 shares of the company’s stock, valued at $836,385.80. This represents a 13.07% 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. Insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on AIN shares. JPMorgan Chase & Co. increased their price target on Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “sell (d)” rating on shares of Albany International in a research note on Tuesday. Zacks Research lowered Albany International from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. Finally, Truist Financial reduced their price target on Albany International from $55.00 to $50.00 and set a “hold” rating for the company in a research report on Friday, November 7th. One investment 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 company. According to data from MarketBeat, Albany International currently has a consensus rating of “Reduce” and an average price target of $64.25.

Albany International Trading Up 0.6%

Shares of Albany International stock opened at $47.68 on Friday. The firm has a 50-day simple moving average of $52.67 and a two-hundred day simple moving average of $61.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. Albany International Corporation has a fifty-two week low of $41.15 and a fifty-two week high of $85.19. The company has a market cap of $1.37 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 1.36 and a beta of 1.39.

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