Schwab Charles Investment Management Inc. Boosts Stake in Albany International Corporation (AIN)
Schwab Charles Investment Management Inc. lifted its position in shares of Albany International Corporation (NYSE:AIN) by 3.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 174,375 shares of the textile maker’s stock after buying an additional 5,840 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.54% of Albany International Corporation worth $9,312,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of AIN. Arizona State Retirement System boosted its position in shares of Albany International Corporation by 0.7% in the first quarter. Arizona State Retirement System now owns 15,014 shares of the textile maker’s stock valued at $691,000 after acquiring an additional 100 shares during the period. Texas Permanent School Fund increased its position in Albany International Corporation by 0.8% during the second quarter. Texas Permanent School Fund now owns 21,100 shares of the textile maker’s stock worth $1,127,000 after acquiring an additional 176 shares during the period. Mason Street Advisors LLC raised its stake in Albany International Corporation by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 6,758 shares of the textile maker’s stock worth $311,000 after purchasing an additional 443 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in Albany International Corporation by 5.6% in the 1st quarter. Thrivent Financial For Lutherans now owns 16,350 shares of the textile maker’s stock worth $753,000 after purchasing an additional 860 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Albany International Corporation by 4.0% in the 1st quarter. First Trust Advisors LP now owns 24,434 shares of the textile maker’s stock worth $1,125,000 after purchasing an additional 941 shares in the last quarter. 90.96% of the stock is owned by institutional investors.
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 sale, the insider now owns 66,377 shares of the company’s stock, valued at approximately $3,537,230.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.63% of the stock is currently owned by insiders.
Separately, BidaskClub downgraded shares of Albany International Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd.
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Shares of Albany International Corporation (NYSE AIN) opened at 58.35 on Wednesday. The company has a 50 day moving average price of $54.00 and a 200 day moving average price of $50.64. The company has a market capitalization of $1.87 billion, a PE ratio of 45.94 and a beta of 1.70. Albany International Corporation has a 52 week low of $37.00 and a 52 week high of $58.60.
Albany International Corporation (NYSE:AIN) last announced its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.36). The business had revenue of $215.57 million for the quarter. Albany International Corporation had a net margin of 4.98% and a return on equity of 8.42%. On average, equities research analysts expect that Albany International Corporation will post $1.90 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Monday, September 11th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. Albany International Corporation’s dividend payout ratio is 53.54%.
Albany International Corporation Profile
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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