Russell Investments Group Ltd. grew its holdings in Albany International Corp. (NYSE:AIN) by 308.6% in the second quarter, Holdings Channel.com reports. The firm owned 26,558 shares of the textile maker’s stock after purchasing an additional 20,058 shares during the period. Russell Investments Group Ltd.’s holdings in Albany International were worth $2,200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AIN. Chicago Equity Partners LLC purchased a new stake in shares of Albany International during the second quarter worth $1,326,000. Strs Ohio raised its holdings in shares of Albany International by 333.3% during the second quarter. Strs Ohio now owns 1,300 shares of the textile maker’s stock worth $107,000 after acquiring an additional 1,000 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Albany International by 0.5% during the first quarter. Principal Financial Group Inc. now owns 718,310 shares of the textile maker’s stock worth $51,425,000 after acquiring an additional 3,648 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Albany International by 7.7% during the first quarter. Raymond James & Associates now owns 35,669 shares of the textile maker’s stock worth $2,554,000 after acquiring an additional 2,539 shares in the last quarter. Finally, Aviva PLC purchased a new stake in shares of Albany International during the second quarter worth $2,534,000. Institutional investors own 92.68% of the company’s stock.

Albany International stock traded up $0.73 during mid-day trading on Thursday, hitting $88.11. 34,173 shares of the company’s stock were exchanged, compared to its average volume of 154,315. The company has a current ratio of 3.19, a quick ratio of 2.66 and a debt-to-equity ratio of 0.74. The stock has a market cap of $2.82 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.43 and a beta of 1.71. Albany International Corp. has a 1-year low of $58.06 and a 1-year high of $90.08. The stock has a 50 day moving average of $82.96 and a two-hundred day moving average of $77.51.

Albany International (NYSE:AIN) last posted its 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. The firm had revenue of $273.95 million for the quarter, compared to the consensus estimate of $267.75 million. Albany International had a net margin of 10.59% and a return on equity of 17.42%. As a group, research analysts predict that Albany International Corp. will post 3.4 EPS for the current fiscal year.

The firm also recently announced a — dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 9th will be given a dividend of $0.18 per share. This represents a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 6th. Albany International’s payout ratio is 28.02%.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded Albany International from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a report on Friday, August 2nd. Noble Financial reiterated a “hold” rating on shares of Albany International in a report on Sunday, August 4th. Bank of America assumed coverage on Albany International in a report on Thursday, September 12th. They set a “buy” rating and a $99.00 price objective for the company. ValuEngine upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Alembic Global Advisors assumed coverage on Albany International in a report on Friday, June 28th. They set a “neutral” rating and a $90.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Albany International currently has an average rating of “Buy” and a consensus price target of $90.33.

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.

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

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