Public Employees Retirement Association of Colorado reduced its position in Albany International (NYSE:AIN) by 19.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,314 shares of the textile maker’s stock after selling 1,546 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Albany International were worth $396,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of AIN. Earnest Partners LLC increased its position in Albany International by 23.4% in the 4th quarter. Earnest Partners LLC now owns 1,417,606 shares of the textile maker’s stock worth $87,112,000 after purchasing an additional 269,083 shares during the last quarter. Tygh Capital Management Inc. acquired a new position in Albany International in the 4th quarter worth about $5,464,000. Assenagon Asset Management S.A. acquired a new position in Albany International in the 4th quarter worth about $4,049,000. Sei Investments Co. increased its position in Albany International by 54.7% in the 4th quarter. Sei Investments Co. now owns 101,854 shares of the textile maker’s stock worth $5,188,000 after purchasing an additional 36,034 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Albany International by 88.8% in the 4th quarter. Deutsche Bank AG now owns 72,058 shares of the textile maker’s stock worth $4,426,000 after purchasing an additional 33,889 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.
Shares of NYSE AIN opened at $61.30 on Monday. The company has a current ratio of 3.24, a quick ratio of 2.67 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.97 billion, a PE ratio of 36.06 and a beta of 1.59. Albany International has a 52 week low of $46.10 and a 52 week high of $68.85.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 9th. Stockholders of record on Thursday, June 7th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, June 6th. Albany International’s dividend payout ratio is 42.24%.
A number of research analysts have recently commented on the company. Zacks Investment Research raised Albany International from a “sell” rating to a “hold” rating in a report on Tuesday, April 10th. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Stephens assumed coverage on Albany International in a report on Tuesday, March 6th. They set a “weight” rating and a $64.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Albany International presently has a consensus rating of “Hold” and a consensus price target of $64.00.
Albany International Profile
Albany International Corp. engages in textile and materials processing businesses worldwide. The company operates through two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing. This segment offers forming, pressing, dryer fabrics, and process belts.
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