MQS Management LLC trimmed its holdings in Albany International Corp. (NYSE:AIN – Get Rating) by 49.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,029 shares of the textile maker’s stock after selling 3,872 shares during the quarter. MQS Management LLC’s holdings in Albany International were worth $397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings in shares of Albany International by 110.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 809 shares of the textile maker’s stock worth $64,000 after buying an additional 425 shares in the last quarter. US Asset Management LLC bought a new position in Albany International during the fourth quarter worth $85,000. Captrust Financial Advisors grew its holdings in Albany International by 89.0% in the first quarter. Captrust Financial Advisors now owns 1,380 shares of the textile maker’s stock worth $117,000 after purchasing an additional 650 shares during the period. Point72 Hong Kong Ltd increased its stake in Albany International by 1,344.7% in the second quarter. Point72 Hong Kong Ltd now owns 1,777 shares of the textile maker’s stock valued at $140,000 after purchasing an additional 1,654 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Albany International during the 3rd quarter worth about $149,000. Institutional investors own 99.94% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Truist Financial raised Albany International from a “hold” rating to a “buy” rating and boosted their target price for the company from $90.00 to $105.00 in a research report on Thursday, April 27th. They noted that the move was a valuation call. StockNews.com began coverage on Albany International in a report on Thursday. They issued a “buy” rating on the stock.
Albany International Stock Down 1.0 %
AIN traded down $0.93 during midday trading on Friday, reaching $90.10. 38,738 shares of the company were exchanged, compared to its average volume of 146,556. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 3.14 and a beta of 1.31. Albany International Corp. has a one year low of $75.24 and a one year high of $115.39. The company’s fifty day moving average price is $89.87 and its 200 day moving average price is $98.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.98 and a current ratio of 4.82.
Albany International (NYSE:AIN – Get Rating) last announced its quarterly earnings results on Monday, February 13th. The textile maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. Albany International had a return on equity of 14.14% and a net margin of 8.96%. The business had revenue of $268.79 million during the quarter, compared to the consensus estimate of $239.11 million. As a group, analysts expect that Albany International Corp. will post 3.66 EPS for the current year.
Albany International Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 10th. Investors of record on Wednesday, June 7th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Tuesday, June 6th. Albany International’s payout ratio is currently 33.00%.
Insider Buying and Selling
In other Albany International news, SVP Robert Alan Hansen sold 1,900 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $101.93, for a total value of $193,667.00. Following the completion of the sale, the senior vice president now owns 11,504 shares in the company, valued at approximately $1,172,602.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.76% of the stock is owned by corporate insiders.
Albany International Company Profile
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Albany International Corp. engages in textiles and materials processing. It operates through the following segments: Machine Clothing and Albany Engineered Composites. The Machine Clothing segment supplies fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries.
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