William Blair Investment Management LLC lifted its holdings in Albany International Corp. (NYSE:AIN – Free Report) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 834,091 shares of the textile maker’s stock after purchasing an additional 12,584 shares during the quarter. William Blair Investment Management LLC owned 2.67% of Albany International worth $77,804,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently modified their holdings of the business. DAVENPORT & Co LLC grew its stake in shares of Albany International by 0.8% in the second quarter. DAVENPORT & Co LLC now owns 12,955 shares of the textile maker’s stock worth $1,208,000 after purchasing an additional 109 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Albany International by 1.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 12,806 shares of the textile maker’s stock worth $1,262,000 after purchasing an additional 124 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Albany International by 9.6% in the second quarter. Captrust Financial Advisors now owns 1,512 shares of the textile maker’s stock worth $119,000 after purchasing an additional 132 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Albany International by 19.1% in the second quarter. Asset Management One Co. Ltd. now owns 1,077 shares of the textile maker’s stock worth $100,000 after purchasing an additional 173 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Albany International by 9.0% in the first quarter. FMR LLC now owns 2,090 shares of the textile maker’s stock valued at $187,000 after buying an additional 173 shares during the period. Institutional investors own 97.37% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. TD Cowen upgraded Albany International from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $100.00 to $106.00 in a report on Monday, September 18th. TheStreet lowered Albany International from a “b-” rating to a “c+” rating in a report on Wednesday, November 1st. Finally, StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Saturday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $110.33.
Albany International Trading Down 1.0 %
Shares of NYSE AIN opened at $83.83 on Tuesday. Albany International Corp. has a 12 month low of $78.20 and a 12 month high of $115.39. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 26.80, a P/E/G ratio of 3.58 and a beta of 1.29. The company has a quick ratio of 2.78, a current ratio of 3.53 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $84.79 and a 200-day simple moving average of $88.99.
Albany International (NYSE:AIN – Get Free Report) last announced its earnings results on Tuesday, November 7th. The textile maker reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. Albany International had a return on equity of 12.39% and a net margin of 9.04%. The business had revenue of $281.11 million during the quarter, compared to the consensus estimate of $264.96 million. During the same period in the prior year, the business posted $1.15 earnings per share. Albany International’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts predict that Albany International Corp. will post 3.62 EPS for the current year.
Albany International Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Tuesday, September 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, September 1st. Albany International’s dividend payout ratio is 31.65%.
In other news, SVP Robert Alan Hansen sold 4,167 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $93.60, for a total transaction of $390,031.20. Following the completion of the sale, the senior vice president now directly owns 7,337 shares of the company’s stock, valued at $686,743.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by company insiders.
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 the manufacturing of papers, paperboards, tissues, towels, nonwovens, building products, tannery, and textiles.
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