Tygh Capital Management Inc. purchased a new stake in shares of Albany International Corp. (NYSE:AIN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 88,910 shares of the textile maker’s stock, valued at approximately $5,464,000. Tygh Capital Management Inc. owned 0.28% of Albany International as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of AIN. Alliancebernstein L.P. lifted its stake in Albany International by 0.7% in the second quarter. Alliancebernstein L.P. now owns 40,355 shares of the textile maker’s stock valued at $2,155,000 after buying an additional 300 shares during the period. Teachers Advisors LLC increased its holdings in shares of Albany International by 6.3% in the second quarter. Teachers Advisors LLC now owns 51,541 shares of the textile maker’s stock worth $2,752,000 after acquiring an additional 3,041 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Albany International in the second quarter worth about $214,000. UBS Asset Management Americas Inc. increased its holdings in shares of Albany International by 50.9% in the second quarter. UBS Asset Management Americas Inc. now owns 14,230 shares of the textile maker’s stock worth $760,000 after acquiring an additional 4,802 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Albany International by 4.3% in the second quarter. Northern Trust Corp now owns 405,925 shares of the textile maker’s stock worth $21,675,000 after acquiring an additional 16,754 shares in the last quarter. 90.68% of the stock is currently owned by institutional investors and hedge funds.
Separately, Noble Financial started coverage on Albany International in a report on Tuesday, January 9th. They set a “hold” rating for the company.
Albany International Corp. (NYSE AIN) traded up $0.70 during trading on Wednesday, reaching $64.45. The company’s stock had a trading volume of 42,076 shares, compared to its average volume of 128,685. Albany International Corp. has a 12-month low of $43.45 and a 12-month high of $66.05. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.51 and a current ratio of 3.35. The company has a market cap of $2,036.65, a price-to-earnings ratio of 39.04 and a beta of 1.65.
Albany International (NYSE:AIN) last issued its quarterly earnings results on Monday, February 5th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Albany International had a return on equity of 9.44% and a net margin of 3.58%. The company had revenue of $226.73 million for the quarter, compared to analyst estimates of $219.00 million. equities analysts expect that Albany International Corp. will post 2.04 earnings per share for the current year.
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Albany International Profile
Albany International Corp. is focused on textiles and materials processing business. The Company operates through two segments: Machine Clothing and Albany Engineered Composites. The Company’s Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.
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