NWQ Investment Management Company LLC reduced its holdings in Albany International Corp. (NYSE:AIN) by 33.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 571,576 shares of the textile maker’s stock after selling 293,158 shares during the period. NWQ Investment Management Company LLC owned approximately 1.78% of Albany International worth $45,440,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of AIN. BlackRock Inc. lifted its stake in shares of Albany International by 8.5% in the second quarter. BlackRock Inc. now owns 3,986,614 shares of the textile maker’s stock worth $239,795,000 after buying an additional 311,334 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Albany International in the second quarter worth about $6,695,000. Assenagon Asset Management S.A. purchased a new position in shares of Albany International in the third quarter worth about $7,886,000. Canada Pension Plan Investment Board purchased a new position in shares of Albany International in the third quarter worth about $7,704,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Albany International in the third quarter worth about $4,570,000. 87.08% of the stock is currently owned by hedge funds and other institutional investors.
AIN stock traded up $0.52 during trading on Friday, reaching $69.93. 468 shares of the stock were exchanged, compared to its average volume of 146,772. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.90 and a quick ratio of 2.41. Albany International Corp. has a 1 year low of $57.95 and a 1 year high of $82.20. The company has a market capitalization of $2.23 billion, a PE ratio of 43.43 and a beta of 1.74.
Albany International (NYSE:AIN) last issued its earnings results on Tuesday, October 30th. The textile maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.15. Albany International had a net margin of 7.51% and a return on equity of 14.33%. The company had revenue of $253.25 million for the quarter, compared to the consensus estimate of $248.50 million. Sell-side analysts forecast that Albany International Corp. will post 2.54 EPS for the current year.
Several equities analysts have recently weighed in on the stock. ValuEngine downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Stephens reissued a “hold” rating on shares of Albany International in a research note on Thursday, August 16th. Finally, Zacks Investment Research raised shares of Albany International from a “hold” rating to a “strong-buy” rating and set a $87.00 price target on the stock in a research note on Monday, August 13th.
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Albany International Profile
Albany International Corp. engages in textile and materials processing businesses worldwide. The company operates through 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, dryer fabrics, and process belts.
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