Bank of Montreal Can acquired a new position in Albany Molecular Research Inc. (NASDAQ:AMRI) during the second quarter, according to its most recent filing with the SEC. The fund acquired 578,620 shares of the company’s stock, valued at approximately $7,777,000.
Other hedge funds also recently added to or reduced their stakes in the company. AMI Asset Management Corp increased its stake in Albany Molecular Research by 55.6% in the second quarter. AMI Asset Management Corp now owns 876,443 shares of the company’s stock worth $11,779,000 after buying an additional 313,225 shares in the last quarter. Royce & Associates LP increased its stake in shares of Albany Molecular Research by 9.5% in the first quarter. Royce & Associates LP now owns 1,079,469 shares of the company’s stock valued at $16,505,000 after buying an additional 93,254 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of Albany Molecular Research during the first quarter valued at about $965,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Albany Molecular Research during the first quarter valued at about $770,000. Finally, Eachwin Capital LP acquired a new stake in shares of Albany Molecular Research during the first quarter valued at about $367,000. 71.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Albany Molecular Research Inc. (NASDAQ:AMRI) traded up 0.12% during mid-day trading on Friday, hitting $17.27. 115,105 shares of the company’s stock traded hands. Albany Molecular Research Inc. has a 1-year low of $12.45 and a 1-year high of $20.65. The stock has a 50 day moving average price of $15.46 and a 200-day moving average price of $14.78. The stock’s market cap is $596.32 million.
Albany Molecular Research (NASDAQ:AMRI) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.04. Albany Molecular Research had a negative net margin of 7.37% and a positive return on equity of 3.17%. The business had revenue of $116.50 million for the quarter, compared to analysts’ expectations of $123.10 million. Equities research analysts anticipate that Albany Molecular Research Inc. will post $1.07 EPS for the current fiscal year.
Separately, Morgan Stanley reaffirmed a “buy” rating and issued a $17.00 price target on shares of Albany Molecular Research in a report on Friday, August 5th.
Albany Molecular Research Company Profile
Albany Molecular Research, Inc is a global contract research and manufacturing company. The Company provides drug discovery, development, and manufacturing services. The Company operates through three segments: Discovery and Development Services (DDS), Active Pharmaceutical Ingredients (API) and Drug Product Manufacturing (DPM).
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