Albany International Corp. (NYSE:AIN) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. decreased its position in shares of Albany International Corp. (NYSE:AIN) by 20.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,491 shares of the textile maker’s stock after selling 39,200 shares during the quarter. Eagle Asset Management Inc.’s holdings in Albany International were worth $12,744,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, SVP Robert Alan Hansen purchased 1,050 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average price of $71.26 per share, with a total value of $74,823.00. Following the purchase, the senior vice president now directly owns 8,387 shares in the company, valued at approximately $597,657.62. This represents a 14.31 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gunnar Kleveland purchased 1,400 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average price of $71.25 per share, with a total value of $99,750.00. Following the acquisition, the chief executive officer now directly owns 8,284 shares in the company, valued at approximately $590,235. The trade was a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 3,450 shares of company stock worth $245,813. 0.76% of the stock is owned by corporate insiders.

Albany International Trading Up 2.7 %

Shares of AIN opened at $84.78 on Friday. The firm’s fifty day moving average is $78.88 and its two-hundred day moving average is $84.63. The stock has a market cap of $2.65 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 2.66 and a beta of 1.29. 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 Corp. has a 52-week low of $67.39 and a 52-week high of $99.41.

Albany International (NYSE:AIN) last released its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. The company had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. Albany International’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 EPS. Research analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AIN shares. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research note on Thursday. Truist Financial decreased their price objective on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Bank of America dropped their target price on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. Finally, TD Cowen reduced their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $85.50.

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.