Albany International Corporation $AIN Position Increased by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in Albany International Corporation (NYSE:AIN) by 37.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,697,965 shares of the textile maker’s stock after buying an additional 464,040 shares during the quarter. American Century Companies Inc. owned approximately 5.76% of Albany International worth $119,079,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brooklyn Investment Group raised its stake in Albany International by 2,241.2% during the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock worth $27,000 after acquiring an additional 381 shares during the period. Hilltop National Bank bought a new position in shares of Albany International during the second quarter valued at approximately $101,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Albany International during the first quarter valued at approximately $105,000. Central Pacific Bank Trust Division raised its position in shares of Albany International by 73.0% during the 2nd quarter. Central Pacific Bank Trust Division now owns 2,880 shares of the textile maker’s stock worth $202,000 after purchasing an additional 1,215 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Albany International in the 1st quarter worth approximately $212,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AIN shares. Zacks Research downgraded Albany International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. boosted their price target on shares of Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Baird R W lowered shares of Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Truist Financial dropped their price objective on shares of Albany International from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Albany International in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $64.25.

Insider Activity at Albany International

In other news, CEO Gunnar Kleveland acquired 2,300 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $42.04 per share, with a total value of $96,692.00. Following the purchase, the chief executive officer owned 19,895 shares of the company’s stock, valued at approximately $836,385.80. This represents a 13.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.76% of the company’s stock.

Albany International Trading Up 0.1%

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

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