Albany International Corp. (NYSE:AIN) Shares Acquired by BlackRock Inc.

BlackRock Inc. increased its position in shares of Albany International Corp. (NYSE:AIN) by 8.0% in the 2nd quarter, Holdings Channel reports. The firm owned 4,584,183 shares of the textile maker’s stock after purchasing an additional 340,272 shares during the period. BlackRock Inc. owned 0.14% of Albany International worth $380,076,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its position in shares of Albany International by 1.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,431 shares of the textile maker’s stock worth $948,000 after purchasing an additional 200 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Albany International by 82.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 720 shares of the textile maker’s stock worth $60,000 after purchasing an additional 325 shares in the last quarter. Pearl River Capital LLC purchased a new stake in shares of Albany International during the second quarter worth approximately $29,000. Parallel Advisors LLC increased its position in shares of Albany International by 53.8% during the second quarter. Parallel Advisors LLC now owns 1,072 shares of the textile maker’s stock worth $89,000 after purchasing an additional 375 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Albany International by 29.0% during the second quarter. US Bancorp DE now owns 1,719 shares of the textile maker’s stock worth $142,000 after purchasing an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Shares of NYSE:AIN opened at $84.96 on Thursday. The company has a quick ratio of 2.58, a current ratio of 3.13 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average of $85.70 and a two-hundred day moving average of $80.96. The stock has a market cap of $2.76 billion, a P/E ratio of 33.06, a PEG ratio of 2.24 and a beta of 1.66. Albany International Corp. has a 52-week low of $58.06 and a 52-week high of $92.04.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, October 29th. The textile maker reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.40. The company had revenue of $271.13 million during the quarter, compared to analysts’ expectations of $260.00 million. Albany International had a return on equity of 18.66% and a net margin of 11.53%. On average, equities analysts anticipate that Albany International Corp. will post 3.93 earnings per share for the current year.

Several brokerages recently commented on AIN. ValuEngine cut Albany International from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Cowen began coverage on Albany International in a research report on Monday, August 19th. They set a “market perform” rating and a $85.00 price target for the company. Bank of America began coverage on Albany International in a research report on Thursday, September 12th. They set a “buy” rating and a $99.00 price target for the company. Noble Financial reiterated a “hold” rating on shares of Albany International in a research report on Sunday, August 4th. Finally, Robert W. Baird cut Albany International from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $93.00 to $80.00 in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $87.67.

Albany International Company 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.

Read More: 52- Week Highs

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

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