Comerica Bank decreased its stake in shares of Albany International Corp. (NYSE:AIN) by 5.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 51,486 shares of the textile maker’s stock after selling 2,779 shares during the quarter. Comerica Bank’s holdings in Albany International were worth $3,220,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Albany International in the 3rd quarter worth $202,000. Crossmark Global Holdings Inc. bought a new stake in shares of Albany International in the 3rd quarter worth $335,000. JPMorgan Chase & Co. increased its holdings in shares of Albany International by 43.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,314 shares of the textile maker’s stock worth $422,000 after purchasing an additional 2,231 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Albany International in the 3rd quarter worth $552,000. Finally, SG Americas Securities LLC increased its holdings in shares of Albany International by 56.1% in the 3rd quarter. SG Americas Securities LLC now owns 9,637 shares of the textile maker’s stock worth $553,000 after purchasing an additional 3,463 shares in the last quarter. 90.15% of the stock is owned by institutional investors and hedge funds.
Separately, Noble Financial initiated coverage on Albany International in a report on Tuesday, January 9th. They issued a “hold” rating for the company.
Albany International (NYSE:AIN) last posted its earnings results on Monday, February 5th. The textile maker reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The business had revenue of $226.73 million during the quarter, compared to analyst estimates of $219.00 million. Albany International had a return on equity of 9.44% and a net margin of 3.58%. sell-side analysts expect that Albany International Corp. will post 2.04 earnings per share for the current year.
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Albany International 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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