Swiss National Bank Sells 8,000 Shares of Albany International Corp. (NYSE:AIN)

Swiss National Bank trimmed its holdings in shares of Albany International Corp. (NYSE:AIN - Free Report) by 10.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,100 shares of the textile maker's stock after selling 8,000 shares during the quarter. Swiss National Bank owned 0.22% of Albany International worth $5,996,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. grew its holdings in Albany International by 1.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 12,806 shares of the textile maker's stock worth $1,262,000 after acquiring an additional 124 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Albany International by 9.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,512 shares of the textile maker's stock worth $119,000 after purchasing an additional 132 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Albany International by 20.0% in the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the textile maker's stock worth $96,000 after purchasing an additional 162 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Albany International by 1.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,561 shares of the textile maker's stock worth $1,212,000 after purchasing an additional 183 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Albany International by 2.5% in the 4th quarter. Arizona State Retirement System now owns 8,775 shares of the textile maker's stock worth $865,000 after purchasing an additional 215 shares during the period. 98.50% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on AIN. Robert W. Baird upgraded shares of Albany International from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $101.00 to $120.00 in a research report on Friday, July 14th. StockNews.com assumed coverage on shares of Albany International in a research report on Thursday, August 17th. They set a "buy" rating on the stock.

Get Our Latest Stock Report on Albany International

AIN opened at $94.49 on Tuesday. The company has a current ratio of 4.99, a quick ratio of 4.15 and a debt-to-equity ratio of 0.53. The company's fifty day moving average price is $92.51 and its two-hundred day moving average price is $92.31. Albany International Corp. has a 1-year low of $76.97 and a 1-year high of $115.39. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 3.94 and a beta of 1.31.

Albany International (NYSE:AIN - Get Free Report) last posted its earnings results on Thursday, July 27th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). Albany International had a return on equity of 13.21% and a net margin of 7.68%. The firm had revenue of $274.10 million during the quarter, compared to the consensus estimate of $261.56 million. During the same quarter in the previous year, the company earned $1.06 EPS. The business's revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that Albany International Corp. will post 3.6 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Tuesday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Albany International's payout ratio is 38.02%.

In other news, SVP Robert Alan Hansen sold 4,167 shares of the company's stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $93.60, for a total value of $390,031.20. Following the completion of the sale, the senior vice president now owns 7,337 shares in the company, valued at approximately $686,743.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.76% of the company's stock.

Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, nonwovens, building products, tannery, and textiles.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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