Renaissance Technologies LLC bought a new position in Albany International Corporation (NYSE:AIN – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 95,900 shares of the textile maker’s stock, valued at approximately $5,007,000. Renaissance Technologies LLC owned approximately 0.34% of Albany International as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. CWM LLC increased its stake in shares of Albany International by 39.3% in the fourth quarter. CWM LLC now owns 712 shares of the textile maker’s stock worth $36,000 after acquiring an additional 201 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Albany International by 227.3% during the second quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 375 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Albany International by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 174 shares in the last quarter. Osaic Holdings Inc. grew its stake in Albany International by 42.3% in the second quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 270 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in Albany International by 519.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,382 shares of the textile maker’s stock worth $70,000 after purchasing an additional 1,159 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.
Albany International Trading Down 0.9%
Shares of NYSE:AIN opened at $61.27 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.88 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $1.74 billion, a PE ratio of -35.21, a P/E/G ratio of 2.58 and a beta of 1.17. Albany International Corporation has a 1 year low of $41.15 and a 1 year high of $77.00. The firm has a fifty day moving average price of $71.53 and a 200 day moving average price of $62.26.
Albany International Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Friday, June 5th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Albany International’s dividend payout ratio (DPR) is -64.37%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on AIN shares. Truist Financial raised their price target on Albany International from $55.00 to $61.00 and gave the stock a “hold” rating in a research note on Friday, June 12th. Weiss Ratings raised Albany International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen upgraded Albany International from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $54.00.
View Our Latest Analysis on Albany International
Albany International Profile
Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.
In the Process Media segment, Albany’s products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.
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