TimesSquare Capital Management LLC reduced its position in shares of Albany International Corp. (NYSE:AIN) by 60.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 240,900 shares of the textile maker’s stock after selling 366,145 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Albany International were worth $20,108,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Charter Oak Capital Management LLC bought a new stake in Albany International during the 4th quarter worth about $41,000. Veriti Management LLC bought a new stake in shares of Albany International in the 4th quarter valued at about $66,000. The PNC Financial Services Group Inc. increased its stake in shares of Albany International by 15.6% in the 1st quarter. The PNC Financial Services Group Inc. now owns 1,916 shares of the textile maker’s stock valued at $161,000 after acquiring an additional 258 shares during the last quarter. First Bank & Trust increased its stake in shares of Albany International by 43.0% in the 1st quarter. First Bank & Trust now owns 2,142 shares of the textile maker’s stock valued at $179,000 after acquiring an additional 644 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Albany International in the 1st quarter valued at about $205,000. 93.28% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Daniel A. Halftermeyer sold 3,100 shares of the stock in a transaction on Monday, June 7th. The stock was sold at an average price of $87.45, for a total value of $271,095.00. Following the sale, the insider now owns 81,655 shares in the company, valued at approximately $7,140,729.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel A. Halftermeyer sold 6,900 shares of the stock in a transaction on Friday, June 4th. The shares were sold at an average price of $87.58, for a total value of $604,302.00. Following the completion of the sale, the insider now owns 84,755 shares in the company, valued at approximately $7,422,842.90. The disclosure for this sale can be found here. In the last three months, insiders sold 10,100 shares of company stock valued at $884,297. 5.78% of the stock is currently owned by insiders.
Albany International (NYSE:AIN) last released its quarterly earnings data on Sunday, April 25th. The textile maker reported $0.87 EPS for the quarter, beating the consensus estimate of $0.65 by $0.22. The company had revenue of $222.36 million during the quarter, compared to the consensus estimate of $210.80 million. Albany International had a return on equity of 15.90% and a net margin of 13.19%. As a group, research analysts forecast that Albany International Corp. will post 2.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 8th. Stockholders of record on Monday, June 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, June 4th. Albany International’s payout ratio is presently 21.51%.
A number of analysts have recently commented on AIN shares. Bank of America reaffirmed a “neutral” rating and issued a $90.00 price target on shares of Albany International in a research note on Monday, March 15th. Zacks Investment Research raised Albany International from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $81.50.
Albany International Profile
Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in manufacturing papers, paperboards, tissues, and towels.
Recommended Story: What does a market perform rating mean?
Want to see what other hedge funds are holding AIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albany International Corp. (NYSE:AIN).
Receive News & Ratings for Albany International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albany International and related companies with MarketBeat.com's FREE daily email newsletter.