Cramer Rosenthal Mcglynn LLC reduced its stake in Albany International Corp. (NYSE:AIN) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 397,870 shares of the textile maker’s stock after selling 7,800 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 1.24% of Albany International worth $24,449,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. bought a new position in Albany International in the third quarter valued at about $335,000. Principal Financial Group Inc. grew its holdings in Albany International by 164.4% during the 3rd quarter. Principal Financial Group Inc. now owns 611,838 shares of the textile maker’s stock valued at $35,119,000 after buying an additional 380,454 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Albany International by 47.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 15,180 shares of the textile maker’s stock valued at $871,000 after purchasing an additional 4,872 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Albany International by 23.0% in the 3rd quarter. Sei Investments Co. now owns 65,820 shares of the textile maker’s stock valued at $3,651,000 after purchasing an additional 12,296 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Albany International by 2.6% in the 3rd quarter. New York State Common Retirement Fund now owns 391,431 shares of the textile maker’s stock valued at $22,468,000 after purchasing an additional 9,823 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on AIN shares. Zacks Investment Research downgraded Albany International from a “hold” rating to a “sell” rating in a report on Monday. Stephens began coverage on Albany International in a research note on Tuesday, March 6th. They set a “weight” rating and a $64.00 target price on the stock. ValuEngine upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Noble Financial began coverage on Albany International in a research note on Tuesday, January 9th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $64.00.
Albany International (NYSE:AIN) last posted its quarterly earnings data on Monday, February 5th. The textile maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The company had revenue of $226.73 million during the quarter, compared to analyst estimates of $219.00 million. Albany International had a return on equity of 9.43% and a net margin of 3.58%. equities analysts anticipate that Albany International Corp. will post 2.04 earnings per share for the current year.
The firm also recently disclosed 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 is Friday, March 16th. This represents a $0.68 annualized dividend and a yield of 1.01%. Albany International’s payout ratio is 70.83%.
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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