Fruth Investment Management Sells 1,200 Shares of Albany International Corp. (AIN)
Fruth Investment Management lessened its stake in shares of Albany International Corp. (NYSE:AIN) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,350 shares of the textile maker’s stock after selling 1,200 shares during the quarter. Fruth Investment Management owned 0.08% of Albany International worth $1,496,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of AIN. Westwood Holdings Group Inc. acquired a new position in shares of Albany International during the second quarter worth about $32,183,000. Principal Financial Group Inc. lifted its stake in shares of Albany International by 164.4% during the third quarter. Principal Financial Group Inc. now owns 611,838 shares of the textile maker’s stock worth $35,119,000 after purchasing an additional 380,454 shares in the last quarter. Mesirow Financial Investment Management Equity Management lifted its stake in shares of Albany International by 382.7% during the third quarter. Mesirow Financial Investment Management Equity Management now owns 403,524 shares of the textile maker’s stock worth $23,163,000 after purchasing an additional 319,924 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Albany International by 28.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 527,675 shares of the textile maker’s stock worth $30,289,000 after purchasing an additional 116,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Albany International by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,532,232 shares of the textile maker’s stock worth $81,820,000 after purchasing an additional 68,150 shares in the last quarter. Institutional investors own 90.65% of the company’s stock.
Shares of Albany International Corp. (NYSE AIN) traded down $0.55 during midday trading on Tuesday, hitting $62.70. The stock had a trading volume of 48,015 shares, compared to its average volume of 122,140. Albany International Corp. has a twelve month low of $43.45 and a twelve month high of $65.65. The stock has a market capitalization of $2,040.00, a price-to-earnings ratio of 47.14 and a beta of 1.73. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.76 and a current ratio of 2.49.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 8th. Stockholders of record on Tuesday, December 26th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, December 22nd. Albany International’s payout ratio is 51.13%.
Separately, Noble Financial started coverage on Albany International in a research note on Tuesday. They set a “hold” rating on the stock.
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About Albany International
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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