SG Americas Securities LLC decreased its position in shares of Albany International Corp. (NYSE:AIN) by 40.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,760 shares of the textile maker’s stock after selling 3,877 shares during the quarter. SG Americas Securities LLC’s holdings in Albany International were worth $354,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of AIN. Cubist Systematic Strategies LLC bought a new stake in Albany International during the 3rd quarter valued at $202,000. Crossmark Global Holdings Inc. bought a new position in Albany International in the third quarter valued at $335,000. JPMorgan Chase & Co. increased its stake in Albany International by 43.9% in the third quarter. JPMorgan Chase & Co. now owns 7,314 shares of the textile maker’s stock valued at $422,000 after acquiring an additional 2,231 shares during the last quarter. Citadel Advisors LLC bought a new position in Albany International in the third quarter valued at $552,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in Albany International by 58.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 10,840 shares of the textile maker’s stock valued at $622,000 after acquiring an additional 4,020 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.
Shares of Albany International Corp. (AIN) opened at $67.30 on Wednesday. The firm has a market cap of $2,141.30, a PE ratio of 41.05 and a beta of 1.58. Albany International Corp. has a fifty-two week low of $43.45 and a fifty-two week high of $67.60. The company has a quick ratio of 2.52, a current ratio of 3.37 and a debt-to-equity ratio of 0.90.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Monday, March 19th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 16th. This represents a $0.68 annualized dividend and a dividend yield of 1.01%. Albany International’s dividend payout ratio (DPR) is presently 70.83%.
AIN has been the subject of a number of analyst reports. Stephens initiated coverage on shares of Albany International in a report on Tuesday, March 6th. They set a “weight” rating and a $64.00 target price for the company. Zacks Investment Research downgraded shares of Albany International from a “hold” rating to a “sell” rating in a research note on Monday. ValuEngine raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Noble Financial began coverage on shares of Albany International in a report on Tuesday, January 9th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Albany International presently has an average rating of “Hold” and a consensus target price of $64.00.
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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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