Principal Financial Group Inc. boosted its holdings in shares of Albany International Corp. (NYSE:AIN) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 738,052 shares of the textile maker’s stock after acquiring an additional 17,596 shares during the quarter. Principal Financial Group Inc. owned 2.28% of Albany International worth $56,033,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Conestoga Capital Advisors LLC increased its stake in Albany International by 137.3% in the third quarter. Conestoga Capital Advisors LLC now owns 866,310 shares of the textile maker’s stock worth $78,107,000 after purchasing an additional 501,276 shares during the period. BlackRock Inc. boosted its stake in shares of Albany International by 8.0% during the second quarter. BlackRock Inc. now owns 4,584,183 shares of the textile maker’s stock valued at $380,076,000 after purchasing an additional 340,272 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Albany International by 31.8% in the fourth quarter. Victory Capital Management Inc. now owns 680,510 shares of the textile maker’s stock worth $47,479,000 after purchasing an additional 164,154 shares during the last quarter. Eagle Asset Management Inc. bought a new position in shares of Albany International in the third quarter worth about $13,668,000. Finally, Lisanti Capital Growth LLC bought a new position in shares of Albany International in the third quarter worth about $5,964,000. Institutional investors own 93.99% of the company’s stock.
Albany International stock traded down $0.10 during midday trading on Friday, hitting $73.65. 5,154 shares of the company’s stock were exchanged, compared to its average volume of 237,897. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.58 and a current ratio of 3.13. Albany International Corp. has a 12 month low of $68.86 and a 12 month high of $92.04. The firm has a 50-day moving average of $74.88 and a two-hundred day moving average of $81.49. The company has a market cap of $2.33 billion, a PE ratio of 18.06, a P/E/G ratio of 1.93 and a beta of 1.60.
AIN has been the subject of a number of research analyst reports. Cowen reiterated a “hold” rating and set a $85.00 price objective on shares of Albany International in a report on Tuesday, November 26th. Zacks Investment Research upgraded shares of Albany International from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised shares of Albany International from a “sell” rating to a “hold” rating in a research report on Saturday, January 18th. Robert W. Baird downgraded shares of Albany International from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $93.00 to $80.00 in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Albany International in a research note on Monday, January 13th. They set a “neutral” rating and a $76.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $86.71.
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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