Lapides Asset Management LLC Invests $1.21 Million in Albany International Corp. (NYSE:AIN)

Lapides Asset Management LLC acquired a new position in shares of Albany International Corp. (NYSE:AIN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,600 shares of the textile maker’s stock, valued at approximately $1,209,000. Lapides Asset Management LLC owned 0.06% of Albany International as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Albany International by 7.0% during the 1st quarter. State Street Corp now owns 953,238 shares of the textile maker’s stock worth $45,293,000 after purchasing an additional 62,062 shares during the period. TimesSquare Capital Management LLC increased its stake in Albany International by 22.3% in the first quarter. TimesSquare Capital Management LLC now owns 924,576 shares of the textile maker’s stock valued at $43,760,000 after acquiring an additional 168,491 shares during the period. Principal Financial Group Inc. boosted its position in Albany International by 24.1% in the first quarter. Principal Financial Group Inc. now owns 915,947 shares of the textile maker’s stock valued at $43,350,000 after buying an additional 177,895 shares in the last quarter. Wellington Management Group LLP boosted its position in Albany International by 39.4% in the first quarter. Wellington Management Group LLP now owns 576,427 shares of the textile maker’s stock valued at $27,282,000 after buying an additional 162,779 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Albany International by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 432,195 shares of the textile maker’s stock valued at $20,456,000 after buying an additional 7,384 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

Shares of AIN traded down $0.09 on Friday, reaching $48.08. 443,259 shares of the company’s stock were exchanged, compared to its average volume of 346,144. The company has a current ratio of 3.67, a quick ratio of 3.13 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.55 billion, a P/E ratio of 14.06 and a beta of 1.55. The business has a 50 day moving average price of $54.81 and a two-hundred day moving average price of $58.10. Albany International Corp. has a 12 month low of $30.46 and a 12 month high of $92.04.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, July 29th. The textile maker reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.38. The business had revenue of $225.99 million during the quarter, compared to the consensus estimate of $221.28 million. Albany International had a net margin of 11.17% and a return on equity of 18.98%. Equities research analysts predict that Albany International Corp. will post 2.95 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 5th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, June 4th. Albany International’s dividend payout ratio (DPR) is 18.49%.

A number of research firms have commented on AIN. Cowen restated a “hold” rating and issued a $57.00 price target on shares of Albany International in a research report on Wednesday. Alembic Global Advisors upgraded shares of Albany International to a “buy” rating and set a $91.00 price target on the stock in a research report on Tuesday, June 9th. Bank of America initiated coverage on shares of Albany International in a research report on Wednesday, April 15th. They set a “buy” rating and a $65.00 target price on the stock. Sidoti lowered shares of Albany International from a “buy” rating to a “neutral” rating and set a $64.00 target price on the stock. in a research report on Thursday, June 4th. Finally, Zacks Investment Research upgraded shares of Albany International from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Albany International presently has an average rating of “Hold” and a consensus price target of $70.29.

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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