Albany International Corporation (AIN) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp lowered its holdings in shares of Albany International Corporation (NYSE:AIN) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,848 shares of the textile maker’s stock after selling 11,504 shares during the quarter. Bank of New York Mellon Corp owned 1.51% of Albany International Corporation worth $25,890,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Albany International Corporation during the first quarter worth about $114,000. First Interstate Bank raised its position in shares of Albany International Corporation by 15.8% during the first quarter. First Interstate Bank now owns 3,694 shares of the textile maker’s stock worth $170,000 after purchasing an additional 505 shares during the period. Victory Capital Management Inc. raised its position in shares of Albany International Corporation by 47.3% during the first quarter. Victory Capital Management Inc. now owns 3,702 shares of the textile maker’s stock worth $170,000 after purchasing an additional 1,189 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Albany International Corporation during the first quarter worth about $215,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Albany International Corporation during the first quarter worth about $257,000. 90.96% of the stock is currently owned by institutional investors.
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In other news, insider Daniel A. Halftermeyer sold 17,300 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $53.29, for a total value of $921,917.00. Following the transaction, the insider now directly owns 66,377 shares of the company’s stock, valued at approximately $3,537,230.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.63% of the stock is owned by insiders.
Shares of Albany International Corporation (AIN) opened at 54.90 on Thursday. The stock’s 50 day moving average price is $52.27 and its 200-day moving average price is $49.46. Albany International Corporation has a 52-week low of $37.00 and a 52-week high of $55.15. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 43.23 and a beta of 1.69.
Albany International Corporation (NYSE:AIN) last announced its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.36). The business had revenue of $215.57 million during the quarter. Albany International Corporation had a net margin of 4.98% and a return on equity of 8.42%. On average, analysts forecast that Albany International Corporation will post $1.90 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Monday, September 11th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, September 8th. Albany International Corporation’s dividend payout ratio is 53.54%.
Separately, BidaskClub lowered Albany International Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
Albany International Corporation 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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