TimesSquare Capital Management LLC decreased its stake in shares of Albany International Corp. (NYSE:AIN) by 60.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,900 shares of the textile maker’s stock after selling 366,145 shares during the period. TimesSquare Capital Management LLC owned approximately 0.75% of Albany International worth $20,108,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Albany International by 3.4% during the 1st quarter. BlackRock Inc. now owns 4,760,891 shares of the textile maker’s stock valued at $397,391,000 after buying an additional 158,620 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Albany International by 2.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 644,687 shares of the textile maker’s stock worth $47,333,000 after purchasing an additional 13,076 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Albany International by 0.5% in the 4th quarter. Clearbridge Investments LLC now owns 541,897 shares of the textile maker’s stock worth $39,786,000 after purchasing an additional 2,559 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Albany International by 3.8% in the 4th quarter. Wells Fargo & Company MN now owns 496,322 shares of the textile maker’s stock worth $36,441,000 after purchasing an additional 18,042 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of Albany International by 17.9% in the 4th quarter. Brown Advisory Inc. now owns 405,114 shares of the textile maker’s stock worth $29,743,000 after purchasing an additional 61,514 shares during the last quarter. 93.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AIN opened at $87.90 on Friday. Albany International Corp. has a one year low of $46.31 and a one year high of $92.42. The stock has a 50-day moving average price of $86.99. The firm has a market capitalization of $2.84 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 13.96 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.52 and a current ratio of 4.22.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 8th. Investors of record on Monday, June 7th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, June 4th. Albany International’s dividend payout ratio is currently 21.51%.
Several equities analysts have recently issued reports on AIN shares. Bank of America reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of Albany International in a research note on Monday, March 15th. Zacks Investment Research raised shares of Albany International from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Albany International presently has an average rating of “Hold” and an average target price of $81.50.
In other Albany International news, insider Daniel A. Halftermeyer sold 3,100 shares of Albany International stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $87.45, for a total value of $271,095.00. Following the completion of the sale, the insider now directly owns 81,655 shares in the company, valued at $7,140,729.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel A. Halftermeyer sold 6,900 shares of Albany International stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $87.58, for a total transaction of $604,302.00. Following the completion of the sale, the insider now owns 84,755 shares of the company’s stock, valued at $7,422,842.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,100 shares of company stock valued at $884,297. 5.78% of the stock is currently owned by corporate insiders.
About Albany International
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 manufacturing papers, paperboards, tissues, and towels.
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