Albany International Corp. (NYSE:AIN) Shares Acquired by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH boosted its position in Albany International Corp. (NYSE:AIN) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 252,233 shares of the textile maker’s stock after buying an additional 34,890 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.81% of Albany International worth $20,171,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Albany International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after acquiring an additional 52,909 shares during the last quarter. Renaissance Technologies LLC increased its stake in Albany International by 720.0% during the second quarter. Renaissance Technologies LLC now owns 20,500 shares of the textile maker’s stock valued at $1,731,000 after purchasing an additional 18,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Albany International during the second quarter worth $349,000. Intech Investment Management LLC bought a new position in shares of Albany International in the 2nd quarter worth about $446,000. Finally, Gabelli Funds LLC boosted its holdings in shares of Albany International by 0.4% in the 2nd quarter. Gabelli Funds LLC now owns 52,600 shares of the textile maker’s stock valued at $4,442,000 after buying an additional 200 shares during the period. 97.37% of the stock is owned by institutional investors.

Insider Transactions at Albany International

In related news, CEO Gunnar Kleveland purchased 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the transaction, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at $590,235. This trade represents a 20.34 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Joseph M. Gaug purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the purchase, the vice president now directly owns 6,811 shares in the company, valued at $485,215.64. This represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 3,450 shares of company stock valued at $245,813 in the last three months. 0.92% of the stock is currently owned by corporate insiders.

Albany International Price Performance

Shares of NYSE AIN opened at $81.25 on Thursday. The stock has a market cap of $2.54 billion, a P/E ratio of 25.39 and a beta of 1.35. The firm’s 50-day simple moving average is $81.37 and its 200 day simple moving average is $83.05. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $98.73. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (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 analyst estimates of $304.51 million. During the same period last year, the company posted $1.02 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts expect that Albany International Corp. will post 3.24 EPS for the current year.

Albany International Increases Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on AIN. Truist Financial increased their price objective on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Bank of America lowered their price objective 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. JPMorgan Chase & Co. cut their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.75.

Albany International Company 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.