Albany International (AIN) Lowered to Hold at ValuEngine
ValuEngine lowered shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a research report sent to investors on Monday.
A number of other equities research analysts have also issued reports on AIN. Zacks Investment Research lowered Albany International from a hold rating to a sell rating in a research report on Thursday, May 10th. Noble Financial reissued a hold rating on shares of Albany International in a research report on Wednesday, August 8th.
Shares of Albany International stock opened at $75.75 on Monday. The firm has a market cap of $2.45 billion, a PE ratio of 47.05 and a beta of 1.67. The company has a current ratio of 2.99, a quick ratio of 2.49 and a debt-to-equity ratio of 0.88. Albany International has a 12-month low of $49.20 and a 12-month high of $78.30.
Large investors have recently bought and sold shares of the stock. Loomis Sayles & Co. L P raised 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 buying an additional 22,886 shares during the period. BW Gestao de Investimentos Ltda. raised its position in Albany International by 9.3% during the first quarter. BW Gestao de Investimentos Ltda. now owns 32,047 shares of the textile maker’s stock valued at $2,009,000 after buying an additional 2,733 shares during the period. Envestnet Asset Management Inc. raised its position in Albany International by 71.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,172 shares of the textile maker’s stock valued at $379,000 after buying an additional 2,564 shares during the period. Guggenheim Capital LLC acquired a new position in Albany International during the fourth quarter valued at $800,000. Finally, Schwab Charles Investment Management Inc. raised its position in Albany International by 2.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 189,256 shares of the textile maker’s stock valued at $11,867,000 after buying an additional 4,218 shares during the period. 89.18% of the stock is currently owned by hedge funds and other institutional investors.
Albany International Company Profile
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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