American Century Companies Inc. lowered its position in shares of Albany International Corp. (NYSE:AIN – Get Rating) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,467 shares of the textile maker’s stock after selling 5,285 shares during the quarter. American Century Companies Inc. owned 0.48% of Albany International worth $14,835,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Albany International by 1.1% in the 1st quarter. BlackRock Inc. now owns 4,948,017 shares of the textile maker’s stock valued at $417,218,000 after purchasing an additional 51,597 shares during the period. Vanguard Group Inc. boosted its position in shares of Albany International by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 3,444,386 shares of the textile maker’s stock valued at $290,431,000 after purchasing an additional 30,652 shares during the period. Bank of America Corp DE boosted its position in Albany International by 1.3% during the 4th quarter. Bank of America Corp DE now owns 1,423,878 shares of the textile maker’s stock worth $140,380,000 after acquiring an additional 17,856 shares during the period. Dimensional Fund Advisors LP boosted its position in Albany International by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,151,310 shares of the textile maker’s stock worth $97,080,000 after acquiring an additional 29,943 shares during the period. Finally, State Street Corp boosted its position in Albany International by 0.5% during the 3rd quarter. State Street Corp now owns 1,082,808 shares of the textile maker’s stock worth $85,587,000 after acquiring an additional 5,426 shares during the period. Institutional investors and hedge funds own 99.94% of the company’s stock.
Albany International Stock Down 0.3 %
AIN opened at $91.59 on Friday. Albany International Corp. has a fifty-two week low of $75.24 and a fifty-two week high of $115.39. The business has a 50-day moving average of $89.48 and a 200-day moving average of $97.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.82 and a quick ratio of 3.98. The company has a market capitalization of $2.86 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 3.11 and a beta of 1.32.
Albany International (NYSE:AIN – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The textile maker reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Albany International had a return on equity of 14.14% and a net margin of 8.96%. The company had revenue of $269.10 million during the quarter, compared to the consensus estimate of $255.14 million. During the same period last year, the business earned $0.91 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that Albany International Corp. will post 3.66 EPS for the current fiscal year.
Albany International Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Wednesday, June 7th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, June 6th. Albany International’s dividend payout ratio (DPR) is presently 33.00%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Truist Financial upgraded Albany International from a “hold” rating to a “buy” rating and raised their price objective for the stock 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 assumed coverage on Albany International in a research report on Thursday, May 18th. They set a “buy” rating for the company.
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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