Gilman Hill Asset Management LLC cut its holdings in Albany International Corp. (NYSE:AIN) by 14.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,644 shares of the textile maker’s stock after selling 2,460 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Albany International were worth $725,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in Albany International in the second quarter valued at approximately $35,000. Macquarie Group Ltd. acquired a new stake in shares of Albany International in the second quarter worth $50,000. First Bank & Trust lifted its stake in shares of Albany International by 30.4% in the second quarter. First Bank & Trust now owns 1,929 shares of the textile maker’s stock worth $113,000 after buying an additional 450 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Albany International in the second quarter worth $113,000. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Albany International in the first quarter worth $208,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.
A number of analysts have recently weighed in on the stock. Cowen restated a “hold” rating and issued a $57.00 price objective on shares of Albany International in a research note on Wednesday, July 29th. ValuEngine upgraded shares of Albany International from a “sell” rating to a “hold” rating in a research note on Monday, October 12th. Finally, Zacks Investment Research cut shares of Albany International from a “hold” rating to a “sell” rating in a research note on Monday, October 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Albany International presently has a consensus rating of “Hold” and a consensus target price of $70.29.
Shares of AIN stock opened at $56.37 on Friday. Albany International Corp. has a 1 year low of $30.46 and a 1 year high of $90.51. The firm’s fifty day simple moving average is $52.13 and its 200 day simple moving average is $52.87. The firm has a market capitalization of $1.82 billion, a P/E ratio of 16.48 and a beta of 1.37. The company has a current ratio of 3.67, a quick ratio of 3.02 and a debt-to-equity ratio of 0.62.
Albany International (NYSE:AIN) last announced its earnings results on Wednesday, July 29th. The textile maker reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.38. Albany International had a net margin of 11.17% and a return on equity of 18.98%. The business had revenue of $225.99 million for the quarter, compared to analyst estimates of $221.28 million. Equities research analysts anticipate that Albany International Corp. will post 3.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 8th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, September 4th. Albany International’s dividend payout ratio (DPR) is presently 18.49%.
Albany International Profile
Albany International Corp. engages in the textile and materials processing businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing. This segment offers forming, pressing, and dryer fabrics, as well as process belts.
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