Amundi Pioneer Asset Management Inc. raised its holdings in shares of Albany International Corp. (NYSE:AIN) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 346,833 shares of the textile maker’s stock after acquiring an additional 27,848 shares during the quarter. Amundi Pioneer Asset Management Inc. owned approximately 1.08% of Albany International worth $21,313,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in AIN. Principal Financial Group Inc. boosted its position in shares of Albany International by 164.4% during the 3rd quarter. Principal Financial Group Inc. now owns 611,838 shares of the textile maker’s stock worth $35,119,000 after acquiring an additional 380,454 shares in the last quarter. Tygh Capital Management Inc. acquired a new position in shares of Albany International during the 4th quarter worth about $5,464,000. Assenagon Asset Management S.A. acquired a new position in shares of Albany International during the 4th quarter worth about $4,049,000. Cramer Rosenthal Mcglynn LLC boosted its position in shares of Albany International by 18.6% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 405,670 shares of the textile maker’s stock worth $23,285,000 after acquiring an additional 63,595 shares in the last quarter. Finally, Pembroke Management LTD boosted its position in shares of Albany International by 23.8% during the 3rd quarter. Pembroke Management LTD now owns 244,400 shares of the textile maker’s stock worth $14,029,000 after acquiring an additional 47,000 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. Zacks Investment Research cut Albany International from a “hold” rating to a “sell” rating in a research report on Monday. Stephens assumed coverage on Albany International in a research report on Tuesday, March 6th. They set a “weight” rating and a $64.00 price objective for the company. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Noble Financial assumed coverage on Albany International in a research report on Tuesday, January 9th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $64.00.
Albany International (NYSE:AIN) last announced its earnings results on Monday, February 5th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $226.73 million during the quarter, compared to analysts’ expectations of $219.00 million. Albany International had a return on equity of 9.43% and a net margin of 3.58%. research analysts anticipate that Albany International Corp. will post 2.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Monday, March 19th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, March 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.02%. Albany International’s dividend payout ratio (DPR) is presently 54.84%.
Albany International Company 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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