Ameriprise Financial Inc. Sells 25,932 Shares of Albany International Corporation (AIN)
Ameriprise Financial Inc. decreased its holdings in shares of Albany International Corporation (NYSE:AIN) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,627 shares of the textile maker’s stock after selling 25,932 shares during the period. Ameriprise Financial Inc. owned about 0.91% of Albany International Corporation worth $15,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its position in shares of Albany International Corporation by 55,161.6% during the 1st quarter. BlackRock Inc. now owns 3,611,346 shares of the textile maker’s stock valued at $166,302,000 after acquiring an additional 3,604,811 shares during the period. Vanguard Group Inc. grew its position in shares of Albany International Corporation by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 2,569,064 shares of the textile maker’s stock valued at $118,306,000 after acquiring an additional 135,361 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Albany International Corporation by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,464,082 shares of the textile maker’s stock valued at $67,421,000 after acquiring an additional 52,876 shares during the period. Earnest Partners LLC grew its position in shares of Albany International Corporation by 7.5% during the 1st quarter. Earnest Partners LLC now owns 1,131,352 shares of the textile maker’s stock valued at $52,099,000 after acquiring an additional 78,485 shares during the period. Finally, State Street Corp grew its position in shares of Albany International Corporation by 8.0% during the 1st quarter. State Street Corp now owns 677,377 shares of the textile maker’s stock valued at $31,195,000 after acquiring an additional 50,367 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.
Separately, BidaskClub downgraded shares of Albany International Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
In related news, insider Daniel A. Halftermeyer sold 17,300 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $53.29, for a total transaction of $921,917.00. Following the completion of the transaction, the insider now owns 66,377 shares of the company’s stock, valued at $3,537,230.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 11.63% of the company’s stock.
Shares of Albany International Corporation (NYSE AIN) opened at 57.45 on Friday. Albany International Corporation has a 12 month low of $37.00 and a 12 month high of $58.88. The stock’s 50 day moving average is $54.40 and its 200-day moving average is $50.74. The company has a market cap of $1.84 billion, a P/E ratio of 45.24 and a beta of 1.70.
Albany International Corporation (NYSE:AIN) last issued its earnings results on Tuesday, August 1st. The textile maker reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.36). Albany International Corporation had a return on equity of 8.42% and a net margin of 4.98%. The business had revenue of $215.57 million for the quarter. On average, equities analysts forecast that Albany International Corporation will post $1.90 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Monday, September 11th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, September 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. Albany International Corporation’s dividend payout ratio (DPR) is presently 53.54%.
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Albany International Corporation Profile
Albany International Corp. is focused on textiles and materials processing business. The Company operates through two segments: Machine Clothing and Albany Engineered Composites. The Company’s Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.
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