Comerica Bank cut its holdings in shares of Albany International (NYSE:AIN) by 30.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,665 shares of the textile maker’s stock after selling 15,821 shares during the period. Comerica Bank owned 0.11% of Albany International worth $2,308,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in AIN. Louisiana State Employees Retirement System grew its position in shares of Albany International by 6.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the textile maker’s stock worth $768,000 after acquiring an additional 800 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Albany International by 3.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 185,038 shares of the textile maker’s stock worth $11,371,000 after purchasing an additional 6,986 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Albany International during the fourth quarter worth $4,049,000. Schaper Benz & Wise Investment Counsel Inc. WI lifted its holdings in shares of Albany International by 22.7% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 18,400 shares of the textile maker’s stock worth $1,131,000 after purchasing an additional 3,400 shares during the period. Finally, Pembroke Management LTD lifted its holdings in shares of Albany International by 5.0% during the fourth quarter. Pembroke Management LTD now owns 256,600 shares of the textile maker’s stock worth $15,768,000 after purchasing an additional 12,200 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.
Shares of Albany International opened at $62.20 on Thursday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.24 and a quick ratio of 2.67. Albany International has a 1-year low of $47.45 and a 1-year high of $68.85. The firm has a market cap of $2.00 billion, a P/E ratio of 36.47 and a beta of 1.59.
Albany International (NYSE:AIN) last issued its quarterly earnings results on Monday, May 7th. The textile maker reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Albany International had a return on equity of 9.61% and a net margin of 3.39%. The firm had revenue of $229.98 million during the quarter, compared to the consensus estimate of $228.50 million. During the same period last year, the company earned $0.46 earnings per share. sell-side analysts predict that Albany International will post 2.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 9th. Investors of record on Thursday, June 7th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Wednesday, June 6th. Albany International’s dividend payout ratio is presently 42.24%.
Several equities research analysts recently weighed in on AIN shares. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research downgraded Albany International from a “hold” rating to a “sell” rating in a report on Monday, March 12th. Finally, Stephens started coverage on Albany International in a report on Tuesday, March 6th. They set a “weight” rating and a $64.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Albany International currently has an average rating of “Hold” and an average price target of $64.00.
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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