Rice Hall James & Associates LLC lessened its position in shares of Albany International Corp. (NYSE:AIN) by 15.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 334,697 shares of the textile maker’s stock after selling 59,699 shares during the period. Rice Hall James & Associates LLC owned 1.04% of Albany International worth $20,567,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Albany International by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,580,292 shares of the textile maker’s stock worth $137,788,000 after purchasing an additional 11,228 shares in the last quarter. Eagle Boston Investment Management Inc. lifted its holdings in Albany International by 10.3% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 135,495 shares of the textile maker’s stock worth $7,885,000 after purchasing an additional 12,646 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Albany International during the 2nd quarter worth about $1,084,000. Susquehanna International Group LLP purchased a new stake in Albany International during the 2nd quarter worth about $456,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in Albany International during the 2nd quarter worth about $334,000. 90.65% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Noble Financial initiated coverage on Albany International in a report on Tuesday, January 9th. They set a “hold” rating on the stock.
Albany International (NYSE:AIN) last issued its quarterly earnings data on Monday, October 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.15. The business had revenue of $222.14 million for the quarter. Albany International had a return on equity of 9.24% and a net margin of 5.06%. During the same period last year, the company posted $0.41 EPS. research analysts predict that Albany International Corp. will post 1.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 8th. Investors of record on Tuesday, December 26th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, December 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. Albany International’s dividend payout ratio (DPR) is 51.13%.
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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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