Rice Hall James & Associates LLC Sells 5,364 Shares of Albany International Corp. (AIN)
Rice Hall James & Associates LLC lowered its stake in Albany International Corp. (NYSE:AIN) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 436,152 shares of the company’s stock after selling 5,364 shares during the period. Albany International Corp. accounts for approximately 1.0% of Rice Hall James & Associates LLC’s holdings, making the stock its 29th largest position. Rice Hall James & Associates LLC owned 1.36% of Albany International Corp. worth $17,416,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in Albany International Corp. by 56.1% in the first quarter. Renaissance Technologies LLC now owns 762,300 shares of the company’s stock worth $28,655,000 after buying an additional 274,000 shares during the period. Norges Bank acquired a new stake in Albany International Corp. during the fourth quarter worth approximately $7,997,000. Wellington Management Group LLP increased its stake in Albany International Corp. by 5.4% in the first quarter. Wellington Management Group LLP now owns 2,709,991 shares of the company’s stock worth $101,868,000 after buying an additional 139,603 shares during the period. TIAA CREF Investment Management LLC increased its stake in Albany International Corp. by 28.4% in the first quarter. TIAA CREF Investment Management LLC now owns 163,015 shares of the company’s stock worth $6,128,000 after buying an additional 36,027 shares during the period. Finally, Aristotle Capital Boston LLC increased its stake in Albany International Corp. by 84.2% in the first quarter. Aristotle Capital Boston LLC now owns 76,698 shares of the company’s stock worth $2,883,000 after buying an additional 35,055 shares during the period. 86.49% of the stock is owned by hedge funds and other institutional investors.
Albany International Corp. (NYSE:AIN) traded down 0.94% during midday trading on Monday, reaching $41.98. The company’s stock had a trading volume of 109,126 shares. Albany International Corp. has a 1-year low of $28.82 and a 1-year high of $44.09. The company’s 50-day moving average price is $42.26 and its 200-day moving average price is $40.46. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 18.93 and a beta of 1.86.
Albany International Corp. (NYSE:AIN) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.48. The firm earned $203.20 million during the quarter, compared to the consensus estimate of $196.47 million. Albany International Corp. had a return on equity of 12.96% and a net margin of 9.72%. During the same period in the prior year, the business earned $0.39 EPS. On average, analysts predict that Albany International Corp. will post $1.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Tuesday, September 20th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 16th. This represents a $0.68 dividend on an annualized basis and a yield of 1.62%. Albany International Corp.’s payout ratio is currently 30.77%.
In related news, insider Robert Alan Hansen sold 4,122 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $42.89, for a total transaction of $176,792.58. Following the completion of the transaction, the insider now directly owns 8,063 shares in the company, valued at approximately $345,822.07. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 13.38% of the company’s stock.
Albany International Corp. Company Profile
Albany International Corp. is a textiles and materials processing company. The Company operates through two segments: Machine Clothing (MC) and Albany Engineered Composites (AEC). Its MC 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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