Albany International Corp. (NYSE:AIN) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in shares of Albany International Corp. (NYSE:AIN) by 308.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,558 shares of the textile maker’s stock after buying an additional 20,058 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of Albany International worth $2,200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AIN. Prudential Financial Inc. grew its holdings in shares of Albany International by 3.8% during the second quarter. Prudential Financial Inc. now owns 51,408 shares of the textile maker’s stock valued at $4,262,000 after purchasing an additional 1,880 shares during the last quarter. Carillon Tower Advisers Inc. grew its holdings in shares of Albany International by 2.0% during the second quarter. Carillon Tower Advisers Inc. now owns 69,755 shares of the textile maker’s stock valued at $5,783,000 after purchasing an additional 1,375 shares during the last quarter. Monashee Investment Management LLC bought a new position in shares of Albany International during the second quarter valued at approximately $403,000. Calamos Advisors LLC bought a new position in shares of Albany International during the second quarter valued at approximately $2,202,000. Finally, Investment Counselors of Maryland LLC grew its holdings in shares of Albany International by 1.2% during the second quarter. Investment Counselors of Maryland LLC now owns 259,331 shares of the textile maker’s stock valued at $21,501,000 after purchasing an additional 2,971 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

AIN stock traded up $0.73 on Thursday, reaching $88.11. The company’s stock had a trading volume of 34,173 shares, compared to its average volume of 154,315. Albany International Corp. has a 52 week low of $58.06 and a 52 week high of $90.08. The company has a market capitalization of $2.82 billion, a P/E ratio of 34.28, a price-to-earnings-growth ratio of 2.43 and a beta of 1.71. The firm has a fifty day moving average of $82.96 and a two-hundred day moving average of $77.51. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.19 and a quick ratio of 2.66.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Tuesday, July 30th. The textile maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.24. Albany International had a return on equity of 17.42% and a net margin of 10.59%. The business had revenue of $273.95 million during the quarter, compared to analyst estimates of $267.75 million. As a group, equities analysts expect that Albany International Corp. will post 3.4 EPS for the current fiscal year.

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

Several equities analysts have recently commented on AIN shares. Noble Financial reaffirmed a “hold” rating on shares of Albany International in a report on Sunday, August 4th. Alembic Global Advisors started coverage on Albany International in a report on Friday, June 28th. They set a “neutral” rating and a $90.00 target price for the company. Cowen started coverage on Albany International in a report on Monday, August 19th. They issued a “market perform” rating and a $85.00 price objective for the company. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised Albany International from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Albany International presently has a consensus rating of “Buy” and a consensus target price of $90.33.

About Albany International

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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