Versor Investments LP cut its stake in shares of Albany International Corp. (NYSE:AIN – Free Report) by 43.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,423 shares of the textile maker’s stock after selling 2,577 shares during the quarter. Versor Investments LP’s holdings in Albany International were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of AIN. Norges Bank bought a new stake in Albany International during the fourth quarter valued at approximately $32,911,000. Millennium Management LLC lifted its position in Albany International by 2,437.0% during the second quarter. Millennium Management LLC now owns 96,913 shares of the textile maker’s stock valued at $7,636,000 after purchasing an additional 93,093 shares during the last quarter. Morgan Stanley raised its stake in shares of Albany International by 31.3% during the fourth quarter. Morgan Stanley now owns 301,413 shares of the textile maker’s stock worth $29,716,000 after acquiring an additional 71,856 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Albany International during the first quarter worth approximately $5,243,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Albany International during the first quarter worth approximately $5,184,000. 97.37% of the stock is currently owned by institutional investors.
Albany International Stock Up 0.2 %
Shares of NYSE AIN opened at $87.48 on Tuesday. The company has a quick ratio of 4.15, a current ratio of 4.99 and a debt-to-equity ratio of 0.53. Albany International Corp. has a 52 week low of $78.20 and a 52 week high of $115.39. The firm’s fifty day moving average is $86.03 and its 200 day moving average is $89.43. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 3.44 and a beta of 1.29.
Albany International Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Tuesday, September 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, September 1st. Albany International’s payout ratio is 38.02%.
Wall Street Analysts Forecast Growth
Several research firms have commented on AIN. TheStreet downgraded shares of Albany International from a “b-” rating to a “c+” rating in a research note on Wednesday, November 1st. Robert W. Baird raised shares of Albany International from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $101.00 to $120.00 in a research note on Friday, July 14th. StockNews.com began coverage on shares of Albany International in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, TD Cowen raised shares of Albany International from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $106.00 in a research note on Monday, September 18th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $110.33.
Get Our Latest Stock Analysis on AIN
Insider Buying and Selling
In other Albany International news, SVP Robert Alan Hansen sold 4,167 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $93.60, for a total transaction of $390,031.20. Following the transaction, the senior vice president now directly owns 7,337 shares of the company’s stock, valued at approximately $686,743.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.76% of the stock is owned by insiders.
Albany International Profile
Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, nonwovens, building products, tannery, and textiles.
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