Rice Hall James & Associates LLC cut its stake in shares of Albany International Corp. (NYSE:AIN) by 7.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,195 shares of the textile maker’s stock after selling 11,278 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.42% of Albany International worth $11,126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Albany International in the 4th quarter valued at approximately $16,647,000. Geode Capital Management LLC raised its holdings in shares of Albany International by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 300,404 shares of the textile maker’s stock valued at $18,754,000 after purchasing an additional 12,330 shares in the last quarter. Brinker Capital Inc. raised its holdings in shares of Albany International by 111.2% in the 1st quarter. Brinker Capital Inc. now owns 7,781 shares of the textile maker’s stock valued at $558,000 after purchasing an additional 4,097 shares in the last quarter. Gilman Hill Asset Management LLC raised its holdings in shares of Albany International by 1.0% in the 1st quarter. Gilman Hill Asset Management LLC now owns 14,694 shares of the textile maker’s stock valued at $1,052,000 after purchasing an additional 150 shares in the last quarter. Finally, Rosenblum Silverman Sutton S F Inc. CA acquired a new stake in shares of Albany International in the 1st quarter valued at $4,993,000. 89.52% of the stock is owned by institutional investors.

NYSE:AIN traded up $1.13 during midday trading on Thursday, hitting $82.43. 1,147 shares of the company were exchanged, compared to its average volume of 203,747. The stock has a fifty day moving average of $81.49. Albany International Corp. has a fifty-two week low of $58.06 and a fifty-two week high of $86.96. The company has a quick ratio of 2.66, a current ratio of 3.19 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $2.65 billion, a P/E ratio of 31.98 and a beta of 1.70.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Tuesday, July 30th. The textile maker reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.24. Albany International had a net margin of 10.59% and a return on equity of 17.42%. The firm had revenue of $273.95 million for the quarter, compared to analyst estimates of $267.75 million. On average, equities analysts anticipate that Albany International Corp. will post 3.4 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on AIN. Alembic Global Advisors began coverage on shares of Albany International in a report on Friday, June 28th. They issued a “neutral” rating and a $90.00 price objective on the stock. Noble Financial restated a “hold” rating on shares of Albany International in a report on Sunday, August 4th. ValuEngine upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Albany International from a “hold” rating to a “strong-buy” rating and set a $98.00 price target on the stock in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $89.50.

In other Albany International news, Director Christine L. Standish sold 1,616,000 shares of Albany International stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $64.67, for a total value of $104,506,720.00. Following the transaction, the director now directly owns 6,595 shares in the company, valued at $426,498.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 10.99% of the company’s stock.

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.

See Also: What is the price-to-earnings growth (PEG) ratio?

Want to see what other hedge funds are holding AIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albany International Corp. (NYSE:AIN).

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

Receive News & Ratings for Albany International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albany International and related companies with MarketBeat.com's FREE daily email newsletter.