Earnest Partners LLC boosted its holdings in shares of Albany International Corp. (NYSE:AIN) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,440,759 shares of the textile maker’s stock after acquiring an additional 11,569 shares during the period. Albany International makes up approximately 1.1% of Earnest Partners LLC’s investment portfolio, making the stock its 20th largest holding. Earnest Partners LLC owned 4.46% of Albany International worth $119,453,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. lifted its holdings in Albany International by 8.0% during the second quarter. BlackRock Inc. now owns 4,584,183 shares of the textile maker’s stock worth $380,076,000 after acquiring an additional 340,272 shares in the last quarter. Dana Investment Advisors Inc. bought a new stake in shares of Albany International in the second quarter valued at about $1,696,000. US Bancorp DE lifted its holdings in shares of Albany International by 29.0% in the second quarter. US Bancorp DE now owns 1,719 shares of the textile maker’s stock valued at $142,000 after purchasing an additional 386 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Albany International in the second quarter valued at about $440,000. Finally, Pinebridge Investments L.P. lifted its holdings in shares of Albany International by 247.2% in the second quarter. Pinebridge Investments L.P. now owns 20,567 shares of the textile maker’s stock valued at $1,705,000 after purchasing an additional 14,643 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.
A number of research firms recently issued reports on AIN. Cowen began coverage on Albany International in a research report on Monday, August 19th. They issued a “market perform” rating and a $85.00 target price on the stock. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Alembic Global Advisors began coverage on Albany International in a research report on Friday, June 28th. They issued a “neutral” rating and a $90.00 target price on the stock. Noble Financial reaffirmed a “hold” rating on shares of Albany International in a research report on Sunday, August 4th. Finally, Bank of America assumed coverage on Albany International in a research report on Thursday. They issued a “buy” rating and a $99.00 target price on the stock. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Albany International has a consensus rating of “Buy” and an average price target of $90.33.
Shares of NYSE AIN opened at $89.05 on Friday. The business’s 50 day moving average price is $81.83 and its two-hundred day moving average price is $77.19. The company has a market cap of $2.88 billion, a PE ratio of 34.65 and a beta of 1.71. The company has a quick ratio of 2.66, a current ratio of 3.19 and a debt-to-equity ratio of 0.74. Albany International Corp. has a twelve month low of $58.06 and a twelve month high of $88.70.
Albany International (NYSE:AIN) last announced its quarterly earnings results on Tuesday, July 30th. The textile maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.24. The firm had revenue of $273.95 million for the quarter, compared to the consensus estimate of $267.75 million. Albany International had a return on equity of 17.42% and a net margin of 10.59%. As a group, research analysts anticipate that Albany International Corp. will post 3.44 EPS for the current fiscal year.
The firm also recently declared a — dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 9th will be given a dividend of $0.18 per share. This represents a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 6th. Albany International’s dividend payout ratio (DPR) is presently 28.02%.
Albany International Profile
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.
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