TIAA CREF Investment Management LLC decreased its position in shares of Albany International (NYSE:AIN) by 7.4% in the 4th quarter, Holdings Channel reports. The firm owned 69,719 shares of the textile maker’s stock after selling 5,558 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in Albany International were worth $4,284,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Teachers Advisors LLC raised its holdings in Albany International by 1.8% during the 4th quarter. Teachers Advisors LLC now owns 52,024 shares of the textile maker’s stock worth $3,197,000 after purchasing an additional 943 shares during the last quarter. Earnest Partners LLC raised its holdings in Albany International by 23.4% during the 4th quarter. Earnest Partners LLC now owns 1,417,606 shares of the textile maker’s stock worth $87,112,000 after purchasing an additional 269,083 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Albany International by 50.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 99,120 shares of the textile maker’s stock worth $6,092,000 after purchasing an additional 33,207 shares during the last quarter. Guggenheim Capital LLC bought a new position in Albany International during the 4th quarter worth approximately $800,000. Finally, Deutsche Bank AG raised its holdings in Albany International by 88.8% during the 4th quarter. Deutsche Bank AG now owns 72,058 shares of the textile maker’s stock worth $4,426,000 after purchasing an additional 33,889 shares during the last quarter. Hedge funds and other institutional investors own 89.88% of the company’s stock.
Several research analysts have issued reports on AIN shares. Noble Financial initiated coverage on shares of Albany International in a report on Tuesday, January 9th. They set a “hold” rating for the company. ValuEngine upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Stephens initiated coverage on shares of Albany International in a research note on Tuesday, March 6th. They issued a “weight” rating and a $64.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Albany International from a “hold” rating to a “sell” rating in a research note on Monday, March 12th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Albany International has an average rating of “Hold” and a consensus price target of $64.00.
NYSE:AIN opened at $63.65 on Friday. The firm has a market capitalization of $2,083.34, a PE ratio of 39.53 and a beta of 1.58. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.37 and a quick ratio of 2.52. Albany International has a twelve month low of $45.38 and a twelve month high of $68.85.
Albany International (NYSE:AIN) last released its quarterly earnings data on Monday, February 5th. The textile maker reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. The company had revenue of $226.73 million during the quarter, compared to analyst estimates of $219.00 million. Albany International had a net margin of 3.58% and a return on equity of 9.43%. analysts forecast that Albany International will post 2.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Monday, March 19th were paid a $0.17 dividend. The ex-dividend date was Friday, March 16th. This represents a $0.68 annualized dividend and a dividend yield of 1.07%. Albany International’s dividend payout ratio is currently 42.24%.
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Albany International Profile
Albany International Corp. engages in textile and materials processing businesses worldwide. The company operates through two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing. This segment offers forming, pressing, dryer fabrics, and process belts.
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