Albany International Corporation (AIN) Shares Sold by Pioneer Investment Management Inc.
Pioneer Investment Management Inc. reduced its stake in Albany International Corporation (NYSE:AIN) by 0.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 305,965 shares of the textile maker’s stock after selling 1,199 shares during the period. Pioneer Investment Management Inc.’s holdings in Albany International Corporation were worth $16,339,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank boosted its position in Albany International Corporation by 1.9% in the first quarter. Comerica Bank now owns 49,512 shares of the textile maker’s stock valued at $2,441,000 after buying an additional 910 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Albany International Corporation by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 496,352 shares of the textile maker’s stock valued at $22,857,000 after buying an additional 23,279 shares during the last quarter. Bbva Compass Bancshares Inc. boosted its position in Albany International Corporation by 6.7% in the first quarter. Bbva Compass Bancshares Inc. now owns 6,152 shares of the textile maker’s stock valued at $283,000 after buying an additional 384 shares during the last quarter. First Trust Advisors LP boosted its position in Albany International Corporation by 4.0% in the first quarter. First Trust Advisors LP now owns 24,434 shares of the textile maker’s stock valued at $1,125,000 after buying an additional 941 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI purchased a new position in Albany International Corporation during the first quarter valued at $939,000. 88.72% of the stock is currently owned by hedge funds and other institutional investors.
Albany International Corporation (AIN) opened at 50.30 on Friday. The company has a market cap of $1.61 billion, a PE ratio of 39.61 and a beta of 1.72. Albany International Corporation has a 12-month low of $37.00 and a 12-month high of $55.15. The stock has a 50 day moving average of $53.02 and a 200 day moving average of $48.73.
Albany International Corporation (NYSE:AIN) last released its earnings results on Tuesday, August 1st. The textile maker reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.36. Albany International Corporation had a net margin of 4.98% and a return on equity of 8.42%. The firm had revenue of $215.57 million for the quarter. Equities analysts expect that Albany International Corporation will post $1.90 earnings per share for the current year.
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Separately, BidaskClub cut shares of Albany International Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th.
In related news, insider Daniel A. Halftermeyer sold 17,300 shares of Albany International Corporation 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 transaction, the insider now owns 66,377 shares in the company, valued at approximately $3,537,230.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 11.63% of the stock is currently owned by insiders.
About Albany International Corporation
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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