United Services Automobile Association lowered its stake in Albany International Corp. (NYSE:AIN) by 21.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,258 shares of the textile maker’s stock after selling 67,790 shares during the period. United Services Automobile Association owned approximately 0.77% of Albany International worth $19,737,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AIN. D.A. Davidson & CO. purchased a new position in shares of Albany International in the third quarter worth about $258,000. FDx Advisors Inc. increased its holdings in shares of Albany International by 20.6% in the second quarter. FDx Advisors Inc. now owns 4,466 shares of the textile maker’s stock worth $269,000 after buying an additional 764 shares during the period. Bank of Montreal Can increased its holdings in shares of Albany International by 40.2% in the third quarter. Bank of Montreal Can now owns 3,422 shares of the textile maker’s stock worth $273,000 after buying an additional 982 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in shares of Albany International by 32.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 5,065 shares of the textile maker’s stock worth $305,000 after buying an additional 1,247 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Albany International in the second quarter worth about $369,000. Hedge funds and other institutional investors own 87.08% of the company’s stock.

NYSE AIN opened at $69.25 on Wednesday. The company has a current ratio of 2.90, a quick ratio of 2.41 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $2.33 billion, a P/E ratio of 43.01 and a beta of 1.74. Albany International Corp. has a 1 year low of $57.95 and a 1 year high of $82.20.

Albany International (NYSE:AIN) last posted its earnings results on Tuesday, October 30th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, topping 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, analysts anticipate that Albany International Corp. will post 2.54 EPS for the current fiscal year.

Several research analysts have recently commented on the company. Stephens reiterated a “hold” rating on shares of Albany International in a report on Thursday, August 16th. ValuEngine cut Albany International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Noble Financial reissued a “hold” rating on shares of Albany International in a research note on Wednesday, August 8th. Finally, Zacks Investment Research cut Albany International from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th.

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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.

Further Reading: Earnings Per Share

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

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