Albany International Corp. (NYSE:AIN) Shares Acquired by Royal Bank of Canada
Royal Bank of Canada boosted its position in Albany International Corp. (NYSE:AIN) by 41.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 218,108 shares of the textile maker’s stock after buying an additional 63,529 shares during the quarter. Royal Bank of Canada owned approximately 0.68% of Albany International worth $10,323,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Guggenheim Capital LLC increased its holdings in Albany International by 203.2% in the first quarter. Guggenheim Capital LLC now owns 8,415 shares of the textile maker’s stock valued at $398,000 after buying an additional 5,640 shares during the last quarter. HighTower Advisors LLC bought a new stake in Albany International in the first quarter valued at about $323,000. Advisor Group Holdings Inc. bought a new stake in Albany International in the first quarter valued at about $208,000. Advantage Alpha Capital Partners LP increased its holdings in Albany International by 74.6% in the first quarter. Advantage Alpha Capital Partners LP now owns 72,358 shares of the textile maker’s stock valued at $3,425,000 after buying an additional 30,909 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Albany International by 2.1% in the first quarter. Invesco Ltd. now owns 290,693 shares of the textile maker’s stock valued at $13,758,000 after buying an additional 5,995 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the company. Sidoti lowered Albany International from a “buy” rating to a “neutral” rating and set a $64.00 target price for the company. in a report on Thursday, June 4th. TheStreet lowered Albany International from a “b” rating to a “c+” rating in a report on Tuesday, March 17th. Zacks Investment Research raised Albany International from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Tuesday, June 2nd. Alembic Global Advisors raised Albany International to a “buy” rating and set a $91.00 target price for the company in a report on Tuesday, June 9th. Finally, Cowen reaffirmed a “hold” rating and set a $41.00 target price on shares of Albany International in a report on Wednesday, April 29th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $68.00.
Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, April 29th. The textile maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.17. Albany International had a return on equity of 19.36% and a net margin of 10.81%. The business had revenue of $235.76 million during the quarter, compared to analyst estimates of $224.25 million. On average, equities analysts anticipate that Albany International Corp. will post 2.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 5th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.76 dividend on an annualized basis and a yield of 1.30%. Albany International’s dividend payout ratio (DPR) is 18.49%.
About Albany International
Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.
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