Bessemer Group Inc. Decreases Stock Holdings in Albany International Corporation $AIN

Bessemer Group Inc. decreased its holdings in shares of Albany International Corporation (NYSE:AIN) by 73.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,256 shares of the textile maker’s stock after selling 8,859 shares during the period. Bessemer Group Inc.’s holdings in Albany International were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AIN. American Century Companies Inc. lifted its position in shares of Albany International by 45.3% during the 1st quarter. American Century Companies Inc. now owns 1,233,925 shares of the textile maker’s stock valued at $85,190,000 after buying an additional 384,546 shares in the last quarter. Nuveen LLC purchased a new stake in Albany International during the 1st quarter worth approximately $18,985,000. Select Equity Group L.P. increased its stake in Albany International by 784.2% during the 1st quarter. Select Equity Group L.P. now owns 126,262 shares of the textile maker’s stock worth $8,717,000 after buying an additional 111,983 shares in the last quarter. Jane Street Group LLC purchased a new stake in Albany International during the 1st quarter worth approximately $7,468,000. Finally, Millennium Management LLC increased its stake in Albany International by 464.4% during the 1st quarter. Millennium Management LLC now owns 91,934 shares of the textile maker’s stock worth $6,347,000 after buying an additional 75,644 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Wall Street Analyst Weigh In

AIN has been the topic of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Albany International in a report on Wednesday, October 8th. Zacks Research upgraded Albany International from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. raised their price objective on Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Robert W. Baird lowered Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price objective on the stock. in a report on Thursday, July 31st. Finally, Baird R W lowered Albany International from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $65.50.

Albany International Stock Down 0.4%

NYSE AIN opened at $56.36 on Tuesday. Albany International Corporation has a 52 week low of $50.60 and a 52 week high of $88.13. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $57.90 and its 200-day simple moving average is $63.57. The firm has a market cap of $1.66 billion, a PE ratio of 28.18, a P/E/G ratio of 1.36 and a beta of 1.36.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 EPS for the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%.The business had revenue of $239.92 million for the quarter. As a group, equities analysts anticipate that Albany International Corporation will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 2nd were issued a $0.27 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 1.9%. Albany International’s dividend payout ratio is currently 54.00%.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites 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 for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.