NWQ Investment Management Company LLC lessened its holdings in Albany International Corp. (NYSE:AIN) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,351,257 shares of the textile maker’s stock after selling 68,084 shares during the period. Albany International comprises about 1.1% of NWQ Investment Management Company LLC’s portfolio, making the stock its 22nd largest holding. NWQ Investment Management Company LLC owned 4.20% of Albany International worth $83,035,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Teachers Advisors LLC increased its stake in shares of Albany International by 1.8% in the 4th quarter. Teachers Advisors LLC now owns 52,024 shares of the textile maker’s stock valued at $3,197,000 after purchasing an additional 943 shares in the last quarter. Earnest Partners LLC increased its stake in shares of Albany International by 23.4% in the 4th quarter. Earnest Partners LLC now owns 1,417,606 shares of the textile maker’s stock valued at $87,112,000 after purchasing an additional 269,083 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Albany International by 50.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 99,120 shares of the textile maker’s stock valued at $6,092,000 after purchasing an additional 33,207 shares in the last quarter. Guggenheim Capital LLC purchased a new position in shares of Albany International in the 4th quarter valued at about $800,000. Finally, Deutsche Bank AG increased its stake in shares of Albany International by 88.8% in the 4th quarter. Deutsche Bank AG now owns 72,058 shares of the textile maker’s stock valued at $4,426,000 after purchasing an additional 33,889 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Albany International Corp. (NYSE AIN) opened at $65.85 on Monday. The company has a quick ratio of 2.52, a current ratio of 3.37 and a debt-to-equity ratio of 0.90. Albany International Corp. has a 52 week low of $43.45 and a 52 week high of $67.15. The firm has a market capitalization of $2,120.37, a PE ratio of 68.59 and a beta of 1.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Monday, March 19th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, March 16th. Albany International’s payout ratio is 70.83%.
AIN has been the subject of several recent analyst reports. Stephens initiated coverage on Albany International in a research note on Tuesday, March 6th. They issued a “weight” rating and a $64.00 price target for the company. ValuEngine upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Noble Financial initiated coverage on Albany International in a research note on Tuesday, January 9th. They issued a “hold” rating for the company.
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Albany International Profile
Albany International Corp. is focused on textiles and materials processing business. The Company operates through two segments: Machine Clothing and Albany Engineered Composites. The Company’s Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.
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