Amundi Pioneer Asset Management Inc. decreased its position in shares of Albany International Corp. (NYSE:AIN) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,881 shares of the textile maker’s stock after selling 8,551 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in Albany International were worth $23,903,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in AIN. Norges Bank acquired a new position in Albany International during the 4th quarter worth $16,647,000. BlackRock Inc. lifted its position in Albany International by 2.9% during the 1st quarter. BlackRock Inc. now owns 4,243,911 shares of the textile maker’s stock worth $303,823,000 after acquiring an additional 119,209 shares during the last quarter. Rosenblum Silverman Sutton S F Inc. CA acquired a new position in Albany International during the 1st quarter worth $4,993,000. Assenagon Asset Management S.A. lifted its position in Albany International by 73.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 139,706 shares of the textile maker’s stock worth $10,002,000 after acquiring an additional 59,156 shares during the last quarter. Finally, Roubaix Capital LLC acquired a new position in Albany International during the 1st quarter worth $3,784,000. 86.81% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Christine L. Standish sold 1,616,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $64.67, for a total transaction of $104,506,720.00. Following the transaction, the director now owns 6,595 shares in the company, valued at approximately $426,498.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 10.99% of the company’s stock.
NYSE:AIN opened at $76.96 on Friday. Albany International Corp. has a 52-week low of $58.06 and a 52-week high of $82.20. The company has a current ratio of 2.99, a quick ratio of 2.49 and a debt-to-equity ratio of 0.78. The stock has a market cap of $2.42 billion, a PE ratio of 29.95 and a beta of 1.64.
Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.14. Albany International had a net margin of 10.41% and a return on equity of 16.39%. The company had revenue of $251.37 million for the quarter, compared to the consensus estimate of $253.75 million. On average, research analysts expect that Albany International Corp. will post 3.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.72 annualized dividend and a dividend yield of 0.94%. Albany International’s payout ratio is 28.02%.
AIN has been the subject of a number of research analyst reports. Robert W. Baird initiated coverage on shares of Albany International in a research report on Friday, February 22nd. They set an “outperform” rating and a $93.00 target price for the company. Zacks Investment Research upgraded shares of Albany International from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Albany International presently has an average rating of “Hold” and an average price target of $85.67.
ILLEGAL ACTIVITY NOTICE: This report was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2019/06/14/albany-international-corp-nyseain-shares-sold-by-amundi-pioneer-asset-management-inc.html.
About Albany International
Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.
Further Reading: What are economic reports?
Want to see what other hedge funds are holding AIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albany International Corp. (NYSE:AIN).
Receive News & Ratings for Albany International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albany International and related companies with MarketBeat.com's FREE daily email newsletter.