Millennium Management LLC grew its holdings in shares of Albany International (NYSE:AIN) by 212.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,867 shares of the textile maker’s stock after buying an additional 8,745 shares during the quarter. Millennium Management LLC’s holdings in Albany International were worth $791,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Earnest Partners LLC increased its position in shares of Albany International by 23.4% during the fourth quarter. Earnest Partners LLC now owns 1,417,606 shares of the textile maker’s stock worth $87,112,000 after acquiring an additional 269,083 shares during the period. Wells Fargo & Company MN boosted its stake in Albany International by 23.7% in the fourth quarter. Wells Fargo & Company MN now owns 152,984 shares of the textile maker’s stock valued at $9,400,000 after acquiring an additional 29,315 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Albany International by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 185,038 shares of the textile maker’s stock valued at $11,371,000 after acquiring an additional 6,986 shares in the last quarter. Swiss National Bank boosted its stake in Albany International by 3.6% in the fourth quarter. Swiss National Bank now owns 49,200 shares of the textile maker’s stock valued at $3,023,000 after acquiring an additional 1,700 shares in the last quarter. Finally, FDx Advisors Inc. acquired a new stake in Albany International in the fourth quarter valued at approximately $280,000. Hedge funds and other institutional investors own 89.50% of the company’s stock.
AIN has been the subject of several research reports. Stephens began coverage on shares of Albany International in a research note on Tuesday, March 6th. They set a “weight” rating and a $64.00 price objective for the company. Zacks Investment Research cut shares of Albany International from a “hold” rating to a “sell” rating in a report on Monday, March 12th. Finally, ValuEngine raised shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $64.00.
Albany International opened at $60.90 on Friday, according to Marketbeat Ratings. 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 $1.92 billion, a P/E ratio of 37.83 and a beta of 1.59. Albany International has a twelve month low of $59.20 and a twelve month high of $59.90.
Albany International (NYSE:AIN) last posted its earnings results on Monday, May 7th. The textile maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The company had revenue of $229.98 million for the quarter, compared to analyst estimates of $228.50 million. Albany International had a net margin of 3.39% and a return on equity of 9.61%. During the same period in the previous year, the business posted $0.46 EPS. equities analysts predict that Albany International will post 2.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 9th. Investors of record on Thursday, June 7th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, June 6th. Albany International’s payout ratio is currently 42.24%.
About Albany International
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.
Receive News & Ratings for Albany International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albany International and related companies with MarketBeat.com's FREE daily email newsletter.