Dimensional Fund Advisors LP reduced its position in Albany International Corp. (NYSE:AIN – Get Rating) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,146,853 shares of the textile maker’s stock after selling 11,102 shares during the quarter. Dimensional Fund Advisors LP owned 3.69% of Albany International worth $113,068,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. lifted its stake in shares of Albany International by 18.9% during the 4th quarter. Citigroup Inc. now owns 23,023 shares of the textile maker’s stock worth $2,270,000 after acquiring an additional 3,665 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Albany International by 4.2% in the fourth quarter. Raymond James & Associates now owns 114,581 shares of the textile maker’s stock worth $11,297,000 after purchasing an additional 4,601 shares during the last quarter. FORA Capital LLC purchased a new position in Albany International in the 4th quarter worth about $270,000. UBS Group AG boosted its position in Albany International by 282.3% in the 4th quarter. UBS Group AG now owns 14,052 shares of the textile maker’s stock valued at $1,385,000 after buying an additional 10,376 shares during the period. Finally, Swiss National Bank grew its stake in Albany International by 0.5% in the 4th quarter. Swiss National Bank now owns 75,100 shares of the textile maker’s stock worth $7,404,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 99.94% of the company’s stock.
Albany International Stock Performance
Shares of Albany International stock opened at $89.92 on Friday. Albany International Corp. has a one year low of $75.24 and a one year high of $115.39. The company has a market capitalization of $2.81 billion, a PE ratio of 29.68, a P/E/G ratio of 3.16 and a beta of 1.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.98 and a current ratio of 4.82. The company has a 50-day simple moving average of $89.80 and a two-hundred day simple moving average of $98.15.
Albany International (NYSE:AIN – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Albany International had a net margin of 8.96% and a return on equity of 14.14%. The business had revenue of $269.10 million for the quarter, compared to analyst estimates of $255.14 million. During the same period in the previous year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts expect that Albany International Corp. will post 3.66 EPS for the current fiscal year.
Albany International Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Wednesday, June 7th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. Albany International’s dividend payout ratio (DPR) is currently 33.00%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on AIN. Truist Financial raised shares of Albany International from a “hold” rating to a “buy” rating and upped their price objective 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. StockNews.com began coverage on shares of Albany International in a report on Thursday. They set a “buy” rating on the stock.
Insider Activity at Albany International
In other Albany International news, SVP Robert Alan Hansen sold 1,900 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $101.93, for a total transaction of $193,667.00. Following the transaction, the senior vice president now owns 11,504 shares in the company, valued at approximately $1,172,602.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by insiders.
About Albany International
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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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