Renaissance Technologies LLC Has $4.97 Million Stake in Albany International Corp. (NYSE:AIN)

Renaissance Technologies LLC lowered its stake in shares of Albany International Corp. (NYSE:AIN – Get Rating) by 10.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,000 shares of the textile maker’s stock after selling 7,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Albany International were worth $4,966,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in Albany International by 22.9% in the second quarter. Sei Investments Co. now owns 592,422 shares of the textile maker’s stock valued at $46,681,000 after purchasing an additional 110,397 shares during the period. Millennium Management LLC raised its holdings in shares of Albany International by 2,437.0% in the 2nd quarter. Millennium Management LLC now owns 96,913 shares of the textile maker’s stock worth $7,636,000 after purchasing an additional 93,093 shares during the period. BlackRock Inc. grew its stake in Albany International by 1.1% in the 1st quarter. BlackRock Inc. now owns 4,948,017 shares of the textile maker’s stock valued at $417,218,000 after buying an additional 51,597 shares in the last quarter. State Street Corp grew its stake in Albany International by 3.6% in the 1st quarter. State Street Corp now owns 1,068,382 shares of the textile maker’s stock valued at $90,307,000 after buying an additional 37,526 shares in the last quarter. Finally, Great West Life Assurance Co. Can purchased a new position in shares of Albany International during the 3rd quarter valued at $2,774,000. 99.94% of the stock is currently owned by institutional investors.

Albany International Stock Down 3.1 %

AIN opened at $92.97 on Friday. The company has a market capitalization of $2.89 billion, a PE ratio of 30.58, a PEG ratio of 3.45 and a beta of 1.34. Albany International Corp. has a 1-year low of $75.24 and a 1-year high of $115.39. The firm’s 50 day simple moving average is $104.57 and its two-hundred day simple moving average is $96.62. The company has a current ratio of 3.97, a quick ratio of 3.31 and a debt-to-equity ratio of 0.51.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Friday, March 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. Albany International’s dividend payout ratio (DPR) is presently 32.89%.

Analyst Ratings Changes

Separately, Truist Financial boosted their price target on shares of Albany International from $80.00 to $85.00 in a research note on Monday, January 9th.

Insider Transactions at Albany International

In other news, SVP Robert Alan Hansen sold 1,900 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $101.93, for a total value of $193,667.00. Following the completion of the sale, the senior vice president now owns 11,504 shares in the company, valued at approximately $1,172,602.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

About Albany International

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Albany International Corp. engages in textiles and materials processing. It operates through the following segments: Machine Clothing and Albany Engineered Composites. The Machine Clothing segment supplies fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries.