Cramer Rosenthal Mcglynn LLC reduced its stake in Albany International Corp. (NYSE:AIN) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 397,870 shares of the textile maker’s stock after selling 7,800 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Albany International were worth $24,449,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in AIN. Dimensional Fund Advisors LP lifted its position 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 purchasing an additional 27,610 shares during the period. Earnest Partners LLC raised its position in shares of Albany International by 0.4% during the 3rd quarter. Earnest Partners LLC now owns 1,148,523 shares of the textile maker’s stock worth $65,925,000 after purchasing an additional 4,519 shares during the last quarter. Principal Financial Group Inc. grew its stake in Albany International by 164.4% in the 3rd quarter. Principal Financial Group Inc. now owns 611,838 shares of the textile maker’s stock worth $35,119,000 after acquiring an additional 380,454 shares during the period. New York State Common Retirement Fund grew its stake in Albany International by 2.6% in the 3rd quarter. New York State Common Retirement Fund now owns 391,431 shares of the textile maker’s stock worth $22,468,000 after acquiring an additional 9,823 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its stake in shares of Albany International by 8.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 346,833 shares of the textile maker’s stock valued at $21,313,000 after buying an additional 27,848 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.
Albany International Corp. (NYSE AIN) opened at $67.30 on Wednesday. The company has a quick ratio of 2.52, a current ratio of 3.37 and a debt-to-equity ratio of 0.90. The stock has a market cap of $2,141.30, a P/E ratio of 41.05 and a beta of 1.58. Albany International Corp. has a 1-year low of $43.45 and a 1-year high of $67.60.
Albany International (NYSE:AIN) last posted its quarterly earnings data on Monday, February 5th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. Albany International had a net margin of 3.58% and a return on equity of 9.43%. The business had revenue of $226.73 million during the quarter, compared to analysts’ expectations of $219.00 million. analysts anticipate that Albany International Corp. will post 2.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Monday, March 19th will be given a $0.17 dividend. The ex-dividend date is Friday, March 16th. This represents a $0.68 annualized dividend and a dividend yield of 1.01%. Albany International’s dividend payout ratio (DPR) is presently 70.83%.
A number of equities analysts have commented on the stock. Noble Financial assumed coverage on shares of Albany International in a report on Tuesday, January 9th. They issued a “hold” rating on the stock. ValuEngine upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Stephens began coverage on shares of Albany International in a research note on Tuesday, March 6th. They issued a “weight” rating and a $64.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Albany International from a “hold” rating to a “sell” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have issued 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.
Albany International Profile
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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