Capstone Asset Management Co. Has $284,000 Stake in Albany International Corporation (AIN)
Capstone Asset Management Co. reduced its stake in Albany International Corporation (NYSE:AIN) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,312 shares of the textile maker’s stock after selling 200 shares during the period. Capstone Asset Management Co.’s holdings in Albany International Corporation were worth $284,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of AIN. BlackRock Inc. raised its position in shares of Albany International Corporation by 55,161.6% in the first quarter. BlackRock Inc. now owns 3,611,346 shares of the textile maker’s stock valued at $166,302,000 after buying an additional 3,604,811 shares during the period. Norges Bank purchased a new position in shares of Albany International Corporation during the fourth quarter valued at $9,449,000. Pembroke Management LTD purchased a new position in shares of Albany International Corporation during the first quarter valued at $7,704,000. Vanguard Group Inc. raised its position in shares of Albany International Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 2,569,064 shares of the textile maker’s stock valued at $118,306,000 after buying an additional 135,361 shares during the period. Finally, Earnest Partners LLC raised its position in shares of Albany International Corporation by 7.5% in the first quarter. Earnest Partners LLC now owns 1,131,352 shares of the textile maker’s stock valued at $52,099,000 after buying an additional 78,485 shares during the period. 88.94% of the stock is currently owned by institutional investors and hedge funds.
Albany International Corporation (AIN) traded down 0.88% on Tuesday, reaching $50.90. The company’s stock had a trading volume of 70,898 shares. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 40.08 and a beta of 1.72. The stock has a 50 day moving average price of $53.01 and a 200-day moving average price of $48.78. Albany International Corporation has a 1-year low of $37.00 and a 1-year high of $55.15.
Albany International Corporation (NYSE:AIN) last issued its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.36. The business had revenue of $215.57 million during the quarter. Albany International Corporation had a return on equity of 8.42% and a net margin of 4.98%. Equities analysts predict that Albany International Corporation will post $1.90 earnings per share for the current fiscal year.
Separately, BidaskClub lowered Albany International Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd.
In other Albany International Corporation news, insider Daniel A. Halftermeyer sold 17,300 shares of the business’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 approximately $3,537,230.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.63% of the stock is owned by insiders.
About Albany International Corporation
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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