Legal & General Group Plc boosted its stake in shares of Albany International Corp. (NYSE:AIN) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,669 shares of the textile maker’s stock after purchasing an additional 1,593 shares during the period. Legal & General Group Plc owned about 0.19% of Albany International worth $3,763,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its position in Albany International by 8.5% during the second quarter. BlackRock Inc. now owns 3,986,614 shares of the textile maker’s stock valued at $239,795,000 after purchasing an additional 311,334 shares during the period. Earnest Partners LLC lifted its position in Albany International by 2.0% during the first quarter. Earnest Partners LLC now owns 1,445,380 shares of the textile maker’s stock valued at $90,625,000 after purchasing an additional 27,774 shares during the period. Westwood Holdings Group Inc. lifted its position in Albany International by 20.8% during the first quarter. Westwood Holdings Group Inc. now owns 939,145 shares of the textile maker’s stock valued at $58,885,000 after purchasing an additional 161,424 shares during the period. Principal Financial Group Inc. lifted its position in Albany International by 3.2% during the first quarter. Principal Financial Group Inc. now owns 603,989 shares of the textile maker’s stock valued at $37,871,000 after purchasing an additional 18,573 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in Albany International by 4.5% during the first quarter. Loomis Sayles & Co. L P now owns 531,321 shares of the textile maker’s stock valued at $33,314,000 after purchasing an additional 22,886 shares during the period. Institutional investors own 87.98% of the company’s stock.

Shares of AIN stock opened at $79.55 on Wednesday. Albany International Corp. has a 12 month low of $55.65 and a 12 month high of $82.20. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 33.03 and a beta of 1.71. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.99 and a quick ratio of 2.49.

Albany International (NYSE:AIN) last announced its earnings results on Monday, August 6th. The textile maker reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.28. Albany International had a net margin of 6.38% and a return on equity of 13.03%. The business had revenue of $256.23 million during the quarter, compared to analysts’ expectations of $233.50 million. During the same period in the prior year, the company earned $0.48 earnings per share. research analysts predict that Albany International Corp. will post 2.53 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Monday, September 10th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, September 7th. This represents a $0.68 dividend on an annualized basis and a yield of 0.85%. Albany International’s dividend payout ratio is currently 42.24%.

A number of research analysts recently weighed in on the stock. ValuEngine upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research cut shares of Albany International from a “hold” rating to a “sell” rating in a report on Monday, June 18th. Stephens reaffirmed a “hold” rating on shares of Albany International in a report on Thursday, August 16th. Finally, Noble Financial reaffirmed a “hold” rating on shares of Albany International in a report on Wednesday, August 8th.

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

Albany International Company Profile

Albany International Corp. engages in textiles and materials processing. It operates through the Machine Clothing and Albany Engineered Composites segments. The Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel, pulp, nonwovens, fiber cement, and several other industrial applications.

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Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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