Texas Permanent School Fund decreased its holdings in Albany International Corp. (NYSE:AIN – Get Rating) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,908 shares of the textile maker’s stock after selling 1,463 shares during the quarter. Texas Permanent School Fund owned 0.07% of Albany International worth $2,061,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently modified their holdings of the business. State of Alaska Department of Revenue grew its stake in shares of Albany International by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 21,655 shares of the textile maker’s stock worth $2,134,000 after purchasing an additional 112 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Albany International by 4.4% in the third quarter. Park Avenue Securities LLC now owns 2,654 shares of the textile maker’s stock worth $209,000 after purchasing an additional 113 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Albany International by 9.6% in the second quarter. Captrust Financial Advisors now owns 1,512 shares of the textile maker’s stock worth $119,000 after purchasing an additional 132 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in shares of Albany International by 6.7% in the third quarter. Vestmark Advisory Solutions Inc. now owns 3,438 shares of the textile maker’s stock worth $271,000 after purchasing an additional 216 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of Albany International by 3.9% in the first quarter. Guggenheim Capital LLC now owns 6,716 shares of the textile maker’s stock worth $567,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 99.94% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Truist Financial upgraded Albany International from a “hold” rating to a “buy” rating and upped their price objective for the company from $90.00 to $105.00 in a report on Thursday, April 27th. They noted that the move was a valuation call. StockNews.com assumed coverage on Albany International in a report on Thursday, March 16th. They issued a “buy” rating for the company.
Albany International Trading Down 0.4 %
Shares of Albany International stock opened at $90.54 on Friday. Albany International Corp. has a fifty-two week low of $75.24 and a fifty-two week high of $115.39. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 3.21 and a beta of 1.31. The company has a quick ratio of 3.98, a current ratio of 4.82 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $90.53 and a 200-day simple moving average of $98.08.
Albany International (NYSE:AIN – Get Rating) last announced its earnings results on Monday, February 13th. The textile maker reported $0.75 EPS for the quarter, beating 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. On average, equities analysts forecast that Albany International Corp. will post 3.65 EPS for the current fiscal year.
Albany International Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, April 10th. Stockholders of record on Friday, March 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, March 16th. Albany International’s dividend payout ratio is 33.00%.
Insider Activity
In other news, SVP Robert Alan Hansen sold 1,900 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $101.93, for a total transaction of $193,667.00. Following the completion of the sale, the senior vice president now directly owns 11,504 shares of the company’s stock, valued at $1,172,602.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by company 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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