Northern Trust Corp lessened its position in Albany International Corp. (NYSE:AIN) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 416,388 shares of the textile maker’s stock after selling 803 shares during the period. Northern Trust Corp owned about 1.29% of Albany International worth $25,995,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of AIN. LS Investment Advisors LLC increased its position in Albany International by 16.4% during the fourth quarter. LS Investment Advisors LLC now owns 1,617 shares of the textile maker’s stock worth $101,000 after purchasing an additional 228 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Albany International during the fourth quarter worth approximately $111,000. Meeder Asset Management Inc. acquired a new position in Albany International during the fourth quarter worth approximately $116,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Albany International by 45.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,224 shares of the textile maker’s stock worth $139,000 after purchasing an additional 700 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Albany International by 59.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,399 shares of the textile maker’s stock worth $151,000 after buying an additional 897 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.
Shares of AIN stock traded down $0.18 on Friday, hitting $73.80. The stock had a trading volume of 175,746 shares, compared to its average volume of 127,646. The company has a market capitalization of $2.38 billion, a PE ratio of 28.72 and a beta of 1.72. The company has a current ratio of 3.13, a quick ratio of 2.68 and a debt-to-equity ratio of 0.86. Albany International Corp. has a 52-week low of $57.95 and a 52-week high of $82.20.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Monday, March 18th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.72 dividend on an annualized basis and a yield of 0.98%. Albany International’s dividend payout ratio (DPR) is 28.02%.
AIN has been the subject of several research reports. Zacks Investment Research upgraded shares of Albany International from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Tuesday, February 12th. Robert W. Baird initiated coverage on shares of Albany International in a research note on Friday, February 22nd. They set an “outperform” rating and a $93.00 price objective for the company. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Albany International currently has a consensus rating of “Hold” and an average price target of $83.00.
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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.
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