Campbell & CO Investment Adviser LLC acquired a new stake in shares of Albany International Corp. (NYSE:AIN – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,051 shares of the textile maker’s stock, valued at approximately $597,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bessemer Group Inc. increased its position in shares of Albany International by 244.8% during the 4th quarter. Bessemer Group Inc. now owns 462 shares of the textile maker’s stock valued at $45,000 after purchasing an additional 328 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Albany International by 110.7% during the third quarter. Quadrant Capital Group LLC now owns 809 shares of the textile maker’s stock worth $64,000 after acquiring an additional 425 shares in the last quarter. US Asset Management LLC bought a new stake in shares of Albany International in the 4th quarter worth approximately $85,000. Captrust Financial Advisors boosted its stake in shares of Albany International by 89.0% in the 1st quarter. Captrust Financial Advisors now owns 1,380 shares of the textile maker’s stock valued at $117,000 after purchasing an additional 650 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Albany International by 1,344.7% during the 2nd 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 during the last quarter. 99.94% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on AIN shares. StockNews.com began coverage on shares of Albany International in a research report on Thursday, May 18th. They set a “buy” rating for the company. Truist Financial raised Albany International from a “hold” rating to a “buy” rating and lifted their price target for the stock from $90.00 to $105.00 in a research note on Thursday, April 27th. They noted that the move was a valuation call.
Albany International Stock Up 0.5 %
NYSE AIN opened at $91.35 on Tuesday. Albany International Corp. has a 1 year low of $75.24 and a 1 year high of $115.39. The stock has a market capitalization of $2.85 billion, a PE ratio of 30.15, a PEG ratio of 3.16 and a beta of 1.32. 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 business’s 50-day moving average is $89.55 and its 200 day moving average is $96.82.
Albany International (NYSE:AIN – Get Rating) last posted its earnings results on Wednesday, April 26th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Albany International had a return on equity of 14.14% and a net margin of 8.96%. The firm had revenue of $269.10 million for the quarter, compared to analysts’ expectations of $255.14 million. During the same period in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Albany International Corp. will post 3.66 earnings per share for the current year.
Albany International Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Wednesday, June 7th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Albany International’s dividend payout ratio is 33.00%.
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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