Voya Investment Management LLC reduced its position in shares of Albany International Corp. (NYSE:AIN) by 9.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,856 shares of the textile maker’s stock after selling 1,184 shares during the period. Voya Investment Management LLC’s holdings in Albany International were worth $713,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FDx Advisors Inc. boosted its holdings in shares of Albany International by 20.6% during the 2nd quarter. FDx Advisors Inc. now owns 4,466 shares of the textile maker’s stock worth $269,000 after buying an additional 764 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Albany International during the 2nd quarter worth $280,000. Ramsey Quantitative Systems bought a new stake in shares of Albany International during the 2nd quarter worth $295,000. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Albany International by 32.7% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,065 shares of the textile maker’s stock worth $305,000 after buying an additional 1,247 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of Albany International by 62.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,744 shares of the textile maker’s stock worth $360,000 after buying an additional 2,200 shares during the period. 87.98% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on the stock. ValuEngine raised shares of Albany International from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research downgraded shares of Albany International from a “hold” rating to a “sell” rating in a report on Monday, June 18th. Stephens reaffirmed a “hold” rating on shares of Albany International in a report on Thursday, August 16th. Finally, Noble Financial reiterated a “hold” rating on shares of Albany International in a research note on Wednesday, August 8th.
In related news, VP Dawne H. Wimbrow sold 900 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $75.90, for a total transaction of $68,310.00. Following the completion of the transaction, the vice president now directly owns 300 shares in the company, valued at approximately $22,770. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 11.75% of the stock is owned by corporate insiders.
NYSE:AIN opened at $69.43 on Friday. The firm has a market cap of $2.56 billion, a P/E ratio of 43.99 and a beta of 1.68. Albany International Corp. has a one year low of $55.80 and a one year high of $82.20. The company has a quick ratio of 2.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.88.
Albany International (NYSE:AIN) last released its earnings results on Monday, August 6th. The textile maker reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.28. The firm had revenue of $256.23 million during the quarter, compared to analysts’ expectations of $233.50 million. Albany International had a net margin of 6.38% and a return on equity of 13.03%. During the same period in the prior year, the company earned $0.48 EPS. As a group, analysts forecast that Albany International Corp. will post 2.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Monday, September 10th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, September 7th. Albany International’s payout ratio is currently 42.24%.
Albany International Profile
Albany International Corp. engages in textiles and materials processing. It operates through the Machine Clothing and Albany Engineered Composites segments. The Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel, pulp, nonwovens, fiber cement, and several other industrial applications.
See Also: How Do Tariffs Affect Trade Balances?
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.