Tyers Asset Management LLC Increases Stock Position in Albany International Corp. (NYSE:AIN)

Tyers Asset Management LLC grew its stake in shares of Albany International Corp. (NYSE:AIN) by 23.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,576 shares of the textile maker’s stock after buying an additional 858 shares during the period. Tyers Asset Management LLC’s holdings in Albany International were worth $379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pearl River Capital LLC acquired a new stake in shares of Albany International in the 2nd quarter valued at about $29,000. Huntington National Bank purchased a new stake in Albany International in the 2nd quarter worth approximately $34,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Albany International in the 2nd quarter worth approximately $39,000. Parallel Advisors LLC purchased a new stake in Albany International in the 1st quarter worth approximately $50,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Albany International in the 2nd quarter worth approximately $82,000. 93.93% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on AIN shares. Noble Financial restated a “hold” rating on shares of Albany International in a report on Sunday, August 4th. Bank of America started coverage on shares of Albany International in a report on Thursday. They set a “buy” rating and a $99.00 price target on the stock. Zacks Investment Research upgraded shares of Albany International from a “hold” rating to a “strong-buy” rating and set a $98.00 price target on the stock in a report on Friday, August 2nd. Alembic Global Advisors started coverage on shares of Albany International in a report on Friday, June 28th. They set a “neutral” rating and a $90.00 price target on the stock. Finally, ValuEngine upgraded shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.33.

NYSE:AIN traded up $1.96 during midday trading on Friday, reaching $89.98. The stock had a trading volume of 3,209 shares, compared to its average volume of 153,196. Albany International Corp. has a 1-year low of $58.06 and a 1-year high of $88.70. The firm’s fifty day simple moving average is $81.83 and its 200-day simple moving average is $77.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.19 and a quick ratio of 2.66. The stock has a market capitalization of $2.88 billion, a P/E ratio of 34.73 and a beta of 1.71.

Albany International (NYSE:AIN) last posted its earnings results on Tuesday, July 30th. The textile maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.24. Albany International had a net margin of 10.59% and a return on equity of 17.42%. The business had revenue of $273.95 million for the quarter, compared to analyst estimates of $267.75 million. On average, equities research analysts anticipate that Albany International Corp. will post 3.44 earnings per share for the current fiscal year.

The company also recently declared a — dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 9th will be issued a dividend of $0.18 per share. This represents a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 6th. Albany International’s dividend payout ratio is currently 28.02%.

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.

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

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