American International Group Inc. lessened its holdings in Albany International Corp. (NYSE:AIN) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,322 shares of the textile maker’s stock after selling 265 shares during the quarter. American International Group Inc. owned 0.07% of Albany International worth $1,394,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in Albany International by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 300,404 shares of the textile maker’s stock valued at $18,754,000 after buying an additional 12,330 shares during the last quarter. Magnus Financial Group LLC purchased a new stake in Albany International during the fourth quarter valued at approximately $222,000. Hsbc Holdings PLC increased its holdings in Albany International by 27.7% during the fourth quarter. Hsbc Holdings PLC now owns 3,475 shares of the textile maker’s stock valued at $217,000 after buying an additional 754 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Albany International by 4.2% during the fourth quarter. Great West Life Assurance Co. Can now owns 39,160 shares of the textile maker’s stock valued at $2,257,000 after buying an additional 1,568 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in Albany International during the fourth quarter valued at approximately $318,000. Institutional investors own 86.81% of the company’s stock.
A number of brokerages have commented on AIN. Zacks Investment Research cut shares of Albany International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 16th. Robert W. Baird initiated coverage on shares of Albany International in a report on Friday, February 22nd. They set an “outperform” rating and a $93.00 target price for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $83.00.
Albany International (NYSE:AIN) last posted its quarterly earnings results on Monday, February 11th. The textile maker reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.09). The firm had revenue of $251.61 million during the quarter, compared to the consensus estimate of $251.50 million. Albany International had a return on equity of 14.79% and a net margin of 8.72%. Equities analysts anticipate that Albany International Corp. will post 3.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Monday, March 18th were given a $0.18 dividend. The ex-dividend date was Friday, March 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.98%. Albany International’s payout ratio is currently 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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