11,505 Shares in Albany International Corp. (AIN) Acquired by Laurion Capital Management LP
Laurion Capital Management LP bought a new stake in Albany International Corp. (NYSE:AIN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,505 shares of the textile maker’s stock, valued at approximately $824,000.
Other large investors have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. boosted its stake in Albany International by 3.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 458,752 shares of the textile maker’s stock valued at $28,639,000 after acquiring an additional 15,860 shares in the last quarter. Geode Capital Management LLC boosted its stake in Albany International by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 300,404 shares of the textile maker’s stock valued at $18,754,000 after acquiring an additional 12,330 shares in the last quarter. Norges Bank acquired a new position in Albany International in the fourth quarter valued at $16,647,000. Investment Counselors of Maryland LLC boosted its stake in Albany International by 2.0% in the fourth quarter. Investment Counselors of Maryland LLC now owns 246,143 shares of the textile maker’s stock valued at $15,367,000 after acquiring an additional 4,900 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Albany International by 13.8% in the fourth quarter. Millennium Management LLC now owns 245,352 shares of the textile maker’s stock valued at $15,317,000 after acquiring an additional 29,799 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on AIN shares. Zacks Investment Research upgraded shares of Albany International from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Tuesday, February 12th. Robert W. Baird started coverage on shares of Albany International in a research note on Friday, February 22nd. They issued an “outperform” rating and a $93.00 price objective for the company. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Albany International presently has a consensus rating of “Hold” and a consensus target price of $85.67.
Albany International (NYSE:AIN) last announced its earnings results on Tuesday, April 30th. The textile maker reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.14. Albany International had a net margin of 10.41% and a return on equity of 16.39%. The business had revenue of $251.37 million during the quarter, compared to the consensus estimate of $253.75 million. On average, sell-side analysts anticipate that Albany International Corp. will post 3.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.72 annualized dividend and a dividend yield of 0.98%. Albany International’s dividend payout ratio (DPR) is 28.02%.
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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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