3,475 Shares in Albany International Corporation $AIN Purchased by AXQ Capital LP

AXQ Capital LP purchased a new stake in Albany International Corporation (NYSE:AIN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,475 shares of the textile maker’s stock, valued at approximately $244,000.

Several other hedge funds have also bought and sold shares of AIN. Nuveen LLC acquired a new position in shares of Albany International in the 1st quarter valued at $18,985,000. Jump Financial LLC purchased a new position in Albany International in the first quarter valued at $1,740,000. Entropy Technologies LP purchased a new position in Albany International in the first quarter valued at $407,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Albany International in the first quarter worth about $416,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Albany International by 184.7% during the 1st quarter. Hsbc Holdings PLC now owns 11,238 shares of the textile maker’s stock worth $779,000 after acquiring an additional 7,290 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Stock Up 0.1%

Shares of NYSE AIN opened at $45.44 on Tuesday. The stock has a market cap of $1.30 billion, a PE ratio of 22.72, a P/E/G ratio of 1.36 and a beta of 1.39. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50. Albany International Corporation has a 12-month low of $41.15 and a 12-month high of $88.13. The company has a 50-day moving average of $53.43 and a 200 day moving average of $61.72.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share for the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%.The business had revenue of $239.92 million for the quarter. As a group, sell-side analysts predict that Albany International Corporation will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AIN shares. Baird R W cut Albany International from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Robert W. Baird cut Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price objective for the company. in a research report on Thursday, July 31st. Truist Financial decreased their target price on Albany International from $55.00 to $50.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Albany International in a report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $64.25.

Insider Transactions at Albany International

In related news, CEO Gunnar Kleveland bought 2,300 shares of the business’s stock in a transaction on Monday, November 17th. The stock was acquired at an average cost of $42.04 per share, with a total value of $96,692.00. Following the purchase, the chief executive officer directly owned 19,895 shares of the company’s stock, valued at $836,385.80. The trade was a 13.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by insiders.

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.