Aristides Capital LLC Purchases Shares of 3,608 Albany International Corporation $AIN

Aristides Capital LLC acquired a new stake in shares of Albany International Corporation (NYSE:AIN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,608 shares of the textile maker’s stock, valued at approximately $253,000.

Several other large investors also recently made changes to their positions in AIN. Nuveen LLC bought a new position in shares of Albany International during the 1st quarter worth approximately $18,985,000. Jump Financial LLC purchased a new stake in shares of Albany International during the first quarter valued at approximately $1,740,000. Entropy Technologies LP bought a new stake in Albany International during the first quarter worth $407,000. Dynamic Technology Lab Private Ltd purchased a new position in Albany International in the first quarter worth $416,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Albany International in the 2nd quarter valued at $673,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Albany International Price Performance

Shares of NYSE AIN opened at $47.41 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. Albany International Corporation has a fifty-two week low of $41.15 and a fifty-two week high of $85.19. The stock has a market cap of $1.36 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.36 and a beta of 1.39. The stock has a fifty day moving average of $53.04 and a 200-day moving average of $61.49.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, May 25th. The textile maker reported $0.43 EPS 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 during the quarter. Equities research analysts anticipate that Albany International Corporation will post 3.23 earnings per share for the current year.

Analyst Ratings Changes

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

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.