Royal Bank of Canada Purchases 100,699 Shares of Albany International Corp. (NYSE:AIN)

Royal Bank of Canada boosted its position in Albany International Corp. (NYSE:AIN) by 2,086.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,526 shares of the textile maker’s stock after purchasing an additional 100,699 shares during the quarter. Royal Bank of Canada owned approximately 0.33% of Albany International worth $8,749,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Albany International by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 300,404 shares of the textile maker’s stock valued at $18,754,000 after acquiring an additional 12,330 shares in the last quarter. BlackRock Inc. boosted its position in Albany International by 2.9% in the first quarter. BlackRock Inc. now owns 4,243,911 shares of the textile maker’s stock worth $303,823,000 after purchasing an additional 119,209 shares during the last quarter. GYL Financial Synergies LLC purchased a new position in Albany International in the first quarter worth about $733,000. RPg Family Wealth Advisory LLC boosted its position in Albany International by 6.9% in the first quarter. RPg Family Wealth Advisory LLC now owns 15,424 shares of the textile maker’s stock worth $1,104,000 after purchasing an additional 993 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Albany International by 942.1% in the first quarter. Marshall Wace LLP now owns 21,353 shares of the textile maker’s stock worth $1,529,000 after purchasing an additional 19,304 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

AIN stock opened at $84.77 on Wednesday. Albany International Corp. has a twelve month low of $58.06 and a twelve month high of $92.04. The company has a quick ratio of 2.66, a current ratio of 3.19 and a debt-to-equity ratio of 0.74. The stock has a market cap of $2.75 billion, a P/E ratio of 32.98, a PEG ratio of 2.37 and a beta of 1.70. The business’s 50-day moving average price is $84.81 and its 200-day moving average price is $78.80.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, July 30th. The textile maker reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.24. Albany International had a return on equity of 17.42% and a net margin of 10.59%. The firm had revenue of $273.95 million for the quarter, compared to analysts’ expectations of $267.75 million. On average, equities research analysts expect that Albany International Corp. will post 3.4 earnings per share for the current fiscal year.

The firm also recently declared a — dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 9th were issued a $0.18 dividend. The ex-dividend date was Friday, September 6th. This represents a yield of 0.9%. Albany International’s dividend payout ratio is presently 28.02%.

Several brokerages have issued reports on AIN. Cowen began coverage on Albany International in a research report on Monday, August 19th. They issued a “market perform” rating and a $85.00 target price on the stock. Noble Financial reissued a “hold” rating on shares of Albany International in a research report on Sunday, August 4th. Zacks Investment Research cut Albany International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Bank of America began coverage on Albany International in a research report on Thursday, September 12th. They issued a “buy” rating and a $99.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Albany International currently has a consensus rating of “Hold” and an average price target of $90.33.

Albany International Profile

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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