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Hedge Funds

Comerica Bank Increases Stock Holdings in Albany International Corp. (NYSE:AIN)


Comerica Bank lifted its stake in Albany International Corp. (NYSE:AINGet Rating) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,437 shares of the textile maker’s stock after purchasing an additional 1,554 shares during the quarter. Comerica Bank’s holdings in Albany International were worth $2,403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Confluence Wealth Services Inc. bought a new stake in shares of Albany International during the 4th quarter worth approximately $27,000. US Asset Management LLC bought a new stake in shares of Albany International during the 1st quarter worth approximately $71,000. CIBC Asset Management Inc bought a new stake in Albany International during the 4th quarter valued at $224,000. Inspire Investing LLC bought a new stake in Albany International during the 1st quarter valued at $236,000. Finally, PDT Partners LLC bought a new stake in Albany International during the 4th quarter valued at $257,000. Hedge funds and other institutional investors own 99.64% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Wednesday, July 6th.

Albany International Trading Down 1.2 %

Shares of NYSE AIN opened at $81.34 on Friday. The company has a quick ratio of 3.73, a current ratio of 4.43 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $81.10 and a two-hundred day simple moving average of $83.30. The firm has a market cap of $2.56 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 4.56 and a beta of 1.27. Albany International Corp. has a twelve month low of $74.17 and a twelve month high of $91.53.

Albany International (NYSE:AINGet Rating) last announced its quarterly earnings results on Monday, April 25th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Albany International had a return on equity of 13.36% and a net margin of 12.47%. The business had revenue of $244.17 million for the quarter, compared to the consensus estimate of $225.57 million. During the same period last year, the business posted $0.87 EPS. Analysts expect that Albany International Corp. will post 3.15 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Tuesday, June 7th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.03%. Albany International’s dividend payout ratio is presently 22.89%.

Albany International Company Profile

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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, and towels.

Recommended Stories

Want to see what other hedge funds are holding AIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albany International Corp. (NYSE:AINGet Rating).

Institutional Ownership by Quarter for Albany International (NYSE:AIN)



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