Ibex Investors LLC acquired a new position in Albany International Corp. (NYSE:AIN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,613 shares of the textile maker’s stock, valued at approximately $208,000.
Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Albany International by 3.7% in the third quarter. BlackRock Inc. now owns 4,132,731 shares of the textile maker’s stock worth $328,552,000 after purchasing an additional 146,117 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Albany International by 0.4% in the second quarter. Earnest Partners LLC now owns 1,451,418 shares of the textile maker’s stock worth $87,303,000 after purchasing an additional 6,038 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Albany International by 4.2% in the third quarter. Renaissance Technologies LLC now owns 653,100 shares of the textile maker’s stock worth $51,921,000 after purchasing an additional 26,600 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Albany International by 7.6% in the third quarter. Bank of New York Mellon Corp now owns 472,859 shares of the textile maker’s stock worth $37,593,000 after purchasing an additional 33,347 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Albany International by 3.6% in the second quarter. Northern Trust Corp now owns 407,740 shares of the textile maker’s stock worth $24,527,000 after purchasing an additional 14,207 shares during the last quarter. Hedge funds and other institutional investors own 87.08% of the company’s stock.
Shares of AIN stock opened at $69.40 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.90 and a quick ratio of 2.41. The company has a market cap of $2.23 billion, a P/E ratio of 26.23 and a beta of 1.74. Albany International Corp. has a twelve month low of $57.95 and a twelve month high of $82.20.
Albany International (NYSE:AIN) last announced its quarterly earnings results on Tuesday, October 30th. The textile maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.15. The company had revenue of $253.25 million during the quarter, compared to analysts’ expectations of $248.50 million. Albany International had a return on equity of 14.33% and a net margin of 7.51%. As a group, equities analysts predict that Albany International Corp. will post 2.54 earnings per share for the current year.
Several research analysts recently weighed in on AIN shares. ValuEngine upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research cut Albany International from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Finally, Stephens reiterated a “hold” rating on shares of Albany International in a research report on Thursday, August 16th.
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Albany International Company 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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