California Public Employees Retirement System Grows Holdings in Albany International Corp. (AIN)
California Public Employees Retirement System grew its stake in Albany International Corp. (NYSE:AIN) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,929 shares of the textile maker’s stock after buying an additional 1,929 shares during the period. California Public Employees Retirement System’s holdings in Albany International were worth $2,349,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new position in Albany International in the 3rd quarter worth approximately $202,000. Earnest Partners LLC grew its stake in Albany International by 0.4% in the 3rd quarter. Earnest Partners LLC now owns 1,148,523 shares of the textile maker’s stock worth $65,925,000 after buying an additional 4,519 shares in the last quarter. Cramer Rosenthal Mcglynn LLC grew its stake in Albany International by 18.6% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 405,670 shares of the textile maker’s stock worth $23,285,000 after buying an additional 63,595 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Albany International by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,559,842 shares of the textile maker’s stock worth $89,535,000 after buying an additional 27,610 shares in the last quarter. Finally, Moody Aldrich Partners LLC grew its stake in Albany International by 14.7% in the 3rd quarter. Moody Aldrich Partners LLC now owns 22,624 shares of the textile maker’s stock worth $1,299,000 after buying an additional 2,904 shares in the last quarter. 90.65% of the stock is owned by institutional investors and hedge funds.
Separately, Noble Financial assumed coverage on shares of Albany International in a research note on Tuesday, January 9th. They issued a “hold” rating for the company.
Albany International (NYSE:AIN) last announced its quarterly earnings data on Monday, October 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. Albany International had a net margin of 5.06% and a return on equity of 9.24%. The company had revenue of $222.14 million during the quarter. During the same period last year, the company posted $0.41 EPS. sell-side analysts expect that Albany International Corp. will post 1.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 8th. Stockholders of record on Tuesday, December 26th were paid a $0.17 dividend. The ex-dividend date was Friday, December 22nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. Albany International’s dividend payout ratio (DPR) is 51.13%.
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Albany International Company 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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