Albany International Corp. (NYSE:AIN) Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC cut its stake in shares of Albany International Corp. (NYSE:AIN) by 4.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,050,788 shares of the textile maker’s stock after selling 47,507 shares during the period. Champlain Investment Partners LLC owned approximately 3.36% of Albany International worth $93,363,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Albany International by 27.4% during the second 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 period. Hilltop National Bank increased its stake in Albany International by 14.7% during the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after buying an additional 134 shares during the period. KBC Group NV lifted its holdings 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 buying an additional 237 shares in the last quarter. SG Americas Securities LLC purchased a new position in Albany International in the 1st quarter valued at about $102,000. Finally, Central Pacific Bank Trust Division grew its stake 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 valued at $176,000 after acquiring an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Trading Up 2.7 %

NYSE:AIN opened at $84.78 on Friday. The company has a market cap of $2.65 billion, a PE ratio of 26.49, a P/E/G ratio of 2.69 and a beta of 1.29. The business’s 50 day moving average is $78.90 and its two-hundred day moving average is $84.64. 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 announced 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. The firm had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the business posted $1.02 earnings per share. On average, analysts predict that Albany International Corp. will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

AIN has been the topic of several recent analyst reports. Bank of America cut their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research report on Thursday. Truist Financial decreased their price target on shares of Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, TD Cowen dropped 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 note on Friday, October 4th. One 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $85.50.

Insider Activity

In related news, VP Joseph M. Gaug purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of $71.24 per share, with a total value of $71,240.00. Following the acquisition, the vice president now owns 6,811 shares in the company, valued at approximately $485,215.64. This trade represents a 17.21 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert Alan Hansen acquired 1,050 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $71.26 per share, with a total value of $74,823.00. Following the transaction, the senior vice president now directly owns 8,387 shares in the company, valued at approximately $597,657.62. This trade represents a 14.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,450 shares of company stock valued at $245,813. Company insiders own 0.76% of the company’s stock.

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.