Noble Financial started coverage on shares of Albany International (NYSE:AIN) in a research note released on Tuesday. The brokerage issued a hold rating on the textile maker’s stock.
Albany International (NYSE AIN) opened at $63.30 on Tuesday. Albany International has a 52 week low of $43.45 and a 52 week high of $65.65. The stock has a market cap of $2,038.26, a P/E ratio of 40.84 and a beta of 1.73. The company has a quick ratio of 1.76, a current ratio of 2.49 and a debt-to-equity ratio of 0.80.
Albany International (NYSE:AIN) last announced its quarterly earnings data on Monday, October 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.15. Albany International had a net margin of 5.06% and a return on equity of 9.24%. The firm had revenue of $222.14 million for the quarter. During the same period in the previous year, the business posted $0.41 earnings per share. equities research analysts predict that Albany International will post 1.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 8th. Shareholders of record on Tuesday, December 26th were paid a $0.17 dividend. The ex-dividend date was Friday, December 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. Albany International’s payout ratio is presently 51.13%.
A number of hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System boosted its stake in Albany International by 4.9% in the third quarter. California Public Employees Retirement System now owns 40,929 shares of the textile maker’s stock valued at $2,349,000 after acquiring an additional 1,929 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Albany International in the third quarter valued at approximately $202,000. Earnest Partners LLC boosted its stake in Albany International by 0.4% in the third quarter. Earnest Partners LLC now owns 1,148,523 shares of the textile maker’s stock valued at $65,925,000 after acquiring an additional 4,519 shares during the last quarter. Cramer Rosenthal Mcglynn LLC boosted its stake in Albany International by 18.6% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 405,670 shares of the textile maker’s stock valued at $23,285,000 after acquiring an additional 63,595 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Albany International by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,559,842 shares of the textile maker’s stock valued at $89,535,000 after acquiring an additional 27,610 shares during the last quarter. 90.65% of the stock is currently owned by hedge funds and other institutional investors.
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About Albany International
Albany International Corp. is focused on textiles and materials processing business. The Company operates through two segments: Machine Clothing and Albany Engineered Composites. The Company’s Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.
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