FDx Advisors Inc. bought a new position in shares of Albany International Corp. (NYSE:AIN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,553 shares of the textile maker’s stock, valued at approximately $280,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Albany International by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,559,842 shares of the textile maker’s stock worth $89,535,000 after acquiring an additional 27,610 shares during the last quarter. Earnest Partners LLC raised its position in shares of Albany International by 0.4% during the third quarter. Earnest Partners LLC now owns 1,148,523 shares of the textile maker’s stock worth $65,925,000 after acquiring an additional 4,519 shares during the last quarter. State Street Corp raised its position in shares of Albany International by 4.8% during the second quarter. State Street Corp now owns 709,687 shares of the textile maker’s stock worth $37,896,000 after acquiring an additional 32,310 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Albany International by 164.4% during the third 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 last quarter. Finally, Cramer Rosenthal Mcglynn LLC raised its position in shares of Albany International by 18.6% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 405,670 shares of the textile maker’s stock worth $23,285,000 after acquiring an additional 63,595 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.
Albany International Corp. (AIN) traded down $0.35 during midday trading on Wednesday, reaching $66.95. The company had a trading volume of 86,316 shares, compared to its average volume of 129,168. Albany International Corp. has a fifty-two week low of $43.45 and a fifty-two week high of $68.85. 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 company has a market capitalization of $2,141.30, a P/E ratio of 69.74 and a beta of 1.58.
Albany International (NYSE:AIN) last posted its earnings results on Monday, February 5th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Albany International had a return on equity of 9.43% and a net margin of 3.58%. The firm had revenue of $226.73 million during the quarter, compared to analysts’ expectations of $219.00 million. equities research analysts predict that Albany International Corp. will post 2.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Monday, March 19th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, March 16th. This represents a $0.68 dividend on an annualized basis and a yield of 1.02%. Albany International’s payout ratio is 70.83%.
A number of research firms recently commented on AIN. Noble Financial began coverage on Albany International in a report on Tuesday, January 9th. They issued a “hold” rating for the company. Zacks Investment Research downgraded Albany International from a “hold” rating to a “sell” rating in a report on Monday. Stephens began coverage on Albany International in a report on Tuesday, March 6th. They issued a “weight” rating and a $64.00 price objective for the company. Finally, ValuEngine upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $64.00.
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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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