Huntington National Bank Purchases New Position in Albany International Corp. (NYSE:AIN)

Huntington National Bank purchased a new stake in shares of Albany International Corp. (NYSE:AIN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 406 shares of the textile maker’s stock, valued at approximately $34,000.

A number of other hedge funds also recently made changes to their positions in the stock. Gilman Hill Asset Management LLC raised its position in Albany International by 1.0% during the first quarter. Gilman Hill Asset Management LLC now owns 14,694 shares of the textile maker’s stock valued at $1,052,000 after acquiring an additional 150 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Albany International by 1.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,431 shares of the textile maker’s stock valued at $948,000 after purchasing an additional 200 shares during the period. Crossmark Global Holdings Inc. grew its holdings in Albany International by 5.3% in the first quarter. Crossmark Global Holdings Inc. now owns 4,742 shares of the textile maker’s stock valued at $339,000 after purchasing an additional 240 shares during the period. Mason Street Advisors LLC grew its holdings in Albany International by 3.4% in the first quarter. Mason Street Advisors LLC now owns 9,314 shares of the textile maker’s stock valued at $667,000 after purchasing an additional 308 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Albany International by 1.1% in the first quarter. California Public Employees Retirement System now owns 37,353 shares of the textile maker’s stock valued at $2,674,000 after purchasing an additional 411 shares during the period. Institutional investors own 87.96% of the company’s stock.

Shares of AIN opened at $84.93 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.49 and a current ratio of 2.99. Albany International Corp. has a 12 month low of $58.06 and a 12 month high of $86.96. The firm has a 50 day simple moving average of $80.22. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 33.05 and a beta of 1.71.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Tuesday, July 30th. The textile maker reported $1.09 EPS for the quarter, beating the consensus estimate of $0.85 by $0.24. The company had revenue of $273.95 million for the quarter, compared to analyst estimates of $267.75 million. Albany International had a return on equity of 16.39% and a net margin of 10.41%. On average, analysts anticipate that Albany International Corp. will post 3.35 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 7th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Thursday, June 6th. Albany International’s dividend payout ratio is presently 28.02%.

Several analysts have commented on the company. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research lowered Albany International from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Alembic Global Advisors assumed coverage on Albany International in a report on Friday, June 28th. They issued a “neutral” rating and a $90.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $87.50.

In other news, Director Christine L. Standish sold 1,616,000 shares of Albany International stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $64.67, for a total value of $104,506,720.00. Following the sale, the director now directly owns 6,595 shares of the company’s stock, valued at $426,498.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.99% of the company’s stock.

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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Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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