Albany International (NYSE:AIN) Cut to “Hold” at StockNews.com

by · The Cerbat Gem

Albany International (NYSE:AIN – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

AIN has been the subject of a number of other reports. 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. Truist Financial decreased their price objective on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.00.

Read Our Latest Report on AIN

Albany International Stock Performance

AIN traded up $0.83 on Wednesday, hitting $82.11. The company’s stock had a trading volume of 199,700 shares, compared to its average volume of 161,853. The company’s 50 day simple moving average is $79.27 and its 200-day simple moving average is $84.71. 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 has a 12 month low of $67.39 and a 12 month high of $99.41. The firm has a market cap of $2.57 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.63 and a beta of 1.29.

Albany International (NYSE:AIN – Get Free Report) last released its quarterly earnings data 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 company had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. During the same period in the previous year, the company posted $1.02 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts forecast that Albany International will post 3.2 EPS for the current year.

Insider Activity at Albany International

In other Albany International news, VP Joseph M. Gaug purchased 1,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was acquired 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 of the company’s stock, valued at $485,215.64. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Gunnar Kleveland bought 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the chief executive officer now directly owns 8,284 shares in the company, valued at approximately $590,235. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Joseph M. Gaug bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of $71.24 per share, with a total value of $71,240.00. Following the completion of the purchase, the vice president now owns 6,811 shares in the company, valued at approximately $485,215.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 3,450 shares of company stock worth $245,813. 0.76% of the stock is owned by company insiders.

Institutional Trading of Albany International

Several large investors have recently bought and sold shares of AIN. Vanguard Group Inc. increased its holdings in Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after purchasing an additional 11,052 shares during the last quarter. Earnest Partners LLC raised its stake in Albany International by 2.1% during the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after acquiring an additional 53,743 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Albany International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after acquiring an additional 52,909 shares during the period. Victory Capital Management Inc. boosted its holdings in Albany International by 24.0% during the third quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock worth $75,330,000 after buying an additional 163,934 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in Albany International by 3.5% in the 2nd quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock valued at $61,335,000 after acquiring an additional 24,430 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Company Profile

(Get Free Report)

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.

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