Albany International (AIN) Position Trimmed by Essex Financial Services Inc.

Essex Financial Services Inc. decreased its position in shares of Albany International (NYSE:AIN) by 31.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,649 shares of the textile maker’s stock after selling 2,596 shares during the quarter. Essex Financial Services Inc.’s holdings in Albany International were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its position in Albany International by 6.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the textile maker’s stock worth $768,000 after purchasing an additional 800 shares during the period. Flinton Capital Management LLC lifted its position in Albany International by 27.8% during the fourth quarter. Flinton Capital Management LLC now owns 3,864 shares of the textile maker’s stock worth $237,000 after purchasing an additional 840 shares during the period. Teachers Advisors LLC lifted its position in Albany International by 1.8% during the fourth quarter. Teachers Advisors LLC now owns 52,024 shares of the textile maker’s stock worth $3,197,000 after purchasing an additional 943 shares during the period. SG Americas Securities LLC lifted its position in Albany International by 19.3% during the first quarter. SG Americas Securities LLC now owns 6,872 shares of the textile maker’s stock worth $431,000 after purchasing an additional 1,112 shares during the period. Finally, Rhumbline Advisers lifted its position in Albany International by 1.6% during the first quarter. Rhumbline Advisers now owns 76,047 shares of the textile maker’s stock worth $4,768,000 after purchasing an additional 1,195 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.

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Several equities research analysts recently weighed in on AIN shares. ValuEngine raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Noble Financial assumed coverage on shares of Albany International in a report on Tuesday, January 9th. They issued a “hold” rating for the company. Zacks Investment Research raised shares of Albany International from a “sell” rating to a “hold” rating in a report on Tuesday, April 10th. Finally, Stephens assumed coverage on shares of Albany International in a report on Tuesday, March 6th. They issued a “weight” rating and a $64.00 target price for the company. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $64.00.

AIN stock opened at $58.35 on Friday. The stock has a market capitalization of $1,878.87, a PE ratio of 36.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.37 and a quick ratio of 2.52. Albany International has a 12 month low of $45.80 and a 12 month high of $68.85.

Albany International (NYSE:AIN) last posted its earnings results on Monday, February 5th. The textile maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $226.73 million during the quarter, compared to analysts’ expectations of $219.00 million. Albany International had a net margin of 3.58% and a return on equity of 9.43%. analysts anticipate that Albany International will post 2.16 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Monday, March 19th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.17%. Albany International’s dividend payout ratio (DPR) is currently 42.24%.

About Albany International

Albany International Corp. engages in textile and materials processing businesses worldwide. The company operates through 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, dryer fabrics, and process belts.

Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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