Gilman Hill Asset Management LLC Sells 4,061 Shares of Albany International Corp. (NYSE:AIN)

Gilman Hill Asset Management LLC decreased its stake in Albany International Corp. (NYSE:AIN) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,188 shares of the textile maker’s stock after selling 4,061 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Albany International were worth $2,974,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Quarry LP increased its holdings in Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after acquiring an additional 402 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Albany International by 33.4% in the third quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock worth $80,000 after purchasing an additional 225 shares during the period. KBC Group NV increased its stake in shares of Albany International by 28.9% in the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after purchasing an additional 237 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of Albany International by 40.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 570 shares during the period. Finally, Bridges Investment Management Inc. purchased a new stake in Albany International in the 3rd quarter worth $206,000. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

NYSE:AIN opened at $81.36 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 25.42 and a beta of 1.35. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $98.73. The stock’s 50 day simple moving average is $81.40 and its two-hundred day simple moving average is $83.07.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter in the previous year, the business posted $1.02 earnings per share. Albany International’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Albany International Corp. will post 3.24 earnings per share for the current fiscal year.

Albany International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were issued a $0.27 dividend. This is an increase from Albany International’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, December 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.33%. Albany International’s dividend payout ratio (DPR) is presently 33.75%.

Insider Buying and Selling

In other news, SVP Robert Alan Hansen bought 1,050 shares of Albany International stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $71.26 per share, with a total value of $74,823.00. Following the completion of the purchase, the senior vice president now owns 8,387 shares in the company, valued at $597,657.62. The trade was a 14.31 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph M. Gaug purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average cost 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 $485,215.64. This trade represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,450 shares of company stock worth $245,813. Corporate insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

AIN has been the topic of several research analyst reports. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. TD Cowen upgraded Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. Bank of America reduced their price objective on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. Truist Financial upped their target price on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Albany International presently has a consensus rating of “Hold” and an average price target of $80.75.

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.