Gilman Hill Asset Management LLC trimmed its holdings in shares of Albany International Corp. (NYSE:AIN) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,059 shares of the textile maker’s stock after selling 440 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Albany International were worth $1,219,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Evoke Wealth LLC bought a new position in Albany International during the third quarter worth about $43,000. Ladenburg Thalmann Financial Services Inc. increased its position in Albany International by 82.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 720 shares of the textile maker’s stock worth $60,000 after acquiring an additional 325 shares during the period. First Mercantile Trust Co. bought a new position in Albany International during the third quarter worth about $73,000. US Bancorp DE increased its position in Albany International by 29.0% during the second quarter. US Bancorp DE now owns 1,719 shares of the textile maker’s stock worth $142,000 after acquiring an additional 386 shares during the period. Finally, Virtu Financial LLC bought a new position in Albany International during the third quarter worth about $215,000. 94.53% of the stock is currently owned by institutional investors and hedge funds.
Albany International stock traded up $0.10 during trading hours on Friday, reaching $79.37. 220 shares of the stock were exchanged, compared to its average volume of 213,509. The company has a market cap of $2.49 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 2.07 and a beta of 1.62. The company has a current ratio of 3.13, a quick ratio of 2.58 and a debt-to-equity ratio of 0.64. Albany International Corp. has a twelve month low of $65.87 and a twelve month high of $92.04. The stock has a 50 day moving average of $78.96 and a two-hundred day moving average of $82.53.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd were paid a $0.19 dividend. This is an increase from Albany International’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, December 20th. Albany International’s dividend payout ratio (DPR) is presently 29.57%.
A number of brokerages have issued reports on AIN. Sidoti reduced their price objective on shares of Albany International from $86.00 to $82.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Zacks Investment Research downgraded shares of Albany International from a “hold” rating to a “sell” rating in a research note on Thursday. Cowen reiterated a “hold” rating and set a $85.00 price objective on shares of Albany International in a research note on Tuesday, November 26th. ValuEngine downgraded shares of Albany International from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. began coverage on shares of Albany International in a research note on Monday. They set a “neutral” rating and a $76.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $86.71.
Albany International Company Profile
Albany International Corp. engages in the textile and materials processing businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing. This segment offers forming, pressing, and dryer fabrics, as well as process belts.
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