Campbell & CO Investment Adviser LLC Makes New Investment in Albany International Corp. (NYSE:AIN)

Campbell & CO Investment Adviser LLC bought a new position in shares of Albany International Corp. (NYSE:AIN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,600 shares of the textile maker’s stock, valued at approximately $376,000.

Other hedge funds have also recently modified their holdings of the company. US Bancorp DE raised its stake in shares of Albany International by 5.3% in the 2nd quarter. US Bancorp DE now owns 4,852 shares of the textile maker’s stock valued at $284,000 after acquiring an additional 246 shares during the period. Advisor Group Holdings Inc. raised its stake in shares of Albany International by 7.1% in the 2nd quarter. Advisor Group Holdings Inc. now owns 4,748 shares of the textile maker’s stock valued at $278,000 after acquiring an additional 315 shares during the period. Legal & General Group Plc raised its stake in shares of Albany International by 0.4% in the 1st quarter. Legal & General Group Plc now owns 92,337 shares of the textile maker’s stock valued at $4,370,000 after acquiring an additional 363 shares during the period. First Bank & Trust raised its stake in shares of Albany International by 30.4% in the 2nd quarter. First Bank & Trust now owns 1,929 shares of the textile maker’s stock valued at $113,000 after acquiring an additional 450 shares during the period. Finally, Connable Office Inc. raised its stake in shares of Albany International by 9.8% in the 2nd quarter. Connable Office Inc. now owns 5,939 shares of the textile maker’s stock valued at $349,000 after acquiring an additional 532 shares during the period. 92.77% of the stock is currently owned by institutional investors.

Shares of AIN opened at $56.37 on Friday. Albany International Corp. has a fifty-two week low of $30.46 and a fifty-two week high of $90.51. The firm’s 50 day moving average price is $52.13 and its 200 day moving average price is $52.87. The company has a market cap of $1.82 billion, a P/E ratio of 16.48 and a beta of 1.37. The company has a quick ratio of 3.02, a current ratio of 3.67 and a debt-to-equity ratio of 0.62.

Albany International (NYSE:AIN) last announced its earnings results on Wednesday, July 29th. The textile maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.38. Albany International had a net margin of 11.17% and a return on equity of 18.98%. The firm had revenue of $225.99 million for the quarter, compared to the consensus estimate of $221.28 million. Research analysts forecast that Albany International Corp. will post 3.04 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 8th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, September 4th. Albany International’s dividend payout ratio (DPR) is presently 18.49%.

A number of equities research analysts have recently issued reports on AIN shares. Zacks Investment Research downgraded shares of Albany International from a “hold” rating to a “sell” rating in a research note on Monday, October 5th. ValuEngine raised shares of Albany International from a “sell” rating to a “hold” rating in a research note on Monday, October 12th. Finally, Cowen reaffirmed a “hold” rating and set a $57.00 target price on shares of Albany International in a research note on Wednesday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $70.29.

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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Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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