Zacks Investment Research cut shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “Albany International Corp. is a global advanced textiles and materials processing company. Albany International has two core businesses, The Machine Clothing segment is the world’s leading producer of custom-designed fabrics and belts essential to production in the paper, nonwovens, and other process industries. Albany Engineered Composites (AEC) is a rapidly growing supplier of highly engineered composite parts for the aerospace industry. Albany International products and technologies help make paper smoother, tissue softer, and aircraft engines and structures lighter. “

Several other research analysts have also recently issued reports on AIN. ValuEngine raised Albany International from a hold rating to a buy rating in a research report on Tuesday, September 4th. Stephens reaffirmed a hold rating on shares of Albany International in a research report on Thursday, August 16th. Finally, Noble Financial reaffirmed a hold rating on shares of Albany International in a research report on Wednesday, August 8th.

Shares of NYSE:AIN opened at $73.47 on Wednesday. The company has a market cap of $2.37 billion, a P/E ratio of 45.63 and a beta of 1.72. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.41 and a current ratio of 2.90. Albany International has a 12-month low of $57.95 and a 12-month high of $82.20.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, October 30th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.15. The company had revenue of $253.25 million for 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, research analysts predict that Albany International will post 2.54 earnings per share for the current fiscal year.

In related news, VP Dawne H. Wimbrow sold 900 shares of Albany International stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $75.90, for a total transaction of $68,310.00. Following the transaction, the vice president now owns 300 shares of the company’s stock, valued at $22,770. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.75% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of AIN. FDx Advisors Inc. lifted its holdings in Albany International by 20.6% during the second quarter. FDx Advisors Inc. now owns 4,466 shares of the textile maker’s stock worth $269,000 after acquiring an additional 764 shares during the period. Bank of Montreal Can lifted its holdings in Albany International by 40.2% during the third quarter. Bank of Montreal Can now owns 3,422 shares of the textile maker’s stock worth $273,000 after acquiring an additional 982 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Albany International during the second quarter worth $280,000. Ramsey Quantitative Systems bought a new stake in Albany International during the second quarter worth $295,000. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Albany International by 32.7% during the second quarter. Dynamic Technology Lab Private Ltd now owns 5,065 shares of the textile maker’s stock worth $305,000 after acquiring an additional 1,247 shares during the period. Institutional investors and hedge funds own 88.68% of the company’s stock.

About Albany International

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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