Albany International Corp. (NYSE:AIN) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its holdings in Albany International Corp. (NYSE:AIN) by 2.6% during the third quarter, Holdings Channel.com reports. The fund owned 636,254 shares of the textile maker’s stock after selling 17,166 shares during the period. Loomis Sayles & Co. L P’s holdings in Albany International were worth $56,531,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AIN. GAMMA Investing LLC raised its stake in 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 during the last quarter. Hilltop National Bank grew its stake in Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after acquiring an additional 134 shares during the period. KBC Group NV grew its stake in Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after acquiring an additional 237 shares during the period. SG Americas Securities LLC purchased a new position in shares of Albany International during the 1st quarter worth $102,000. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Albany International by 40.3% during the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after purchasing an additional 570 shares during the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Albany International

In other news, SVP Robert Alan Hansen bought 1,050 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average cost of $71.26 per share, for a total transaction 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 trade represents a 14.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gunnar Kleveland acquired 1,400 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was purchased 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 directly owns 8,284 shares in the company, valued at $590,235. This represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 3,450 shares of company stock worth $245,813. Corporate insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

AIN has been the topic of several recent analyst reports. Truist Financial reduced their target price on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. TD Cowen cut their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 4th. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, Bank of America cut their price target on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.50.

Albany International Stock Up 1.7 %

Shares of NYSE:AIN opened at $86.24 on Tuesday. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $99.41. The stock has a 50-day simple moving average of $78.88 and a 200-day simple moving average of $84.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The stock has a market capitalization of $2.70 billion, a P/E ratio of 26.49 and a beta of 1.29.

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

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.