Victory Capital Management Inc. lessened its position in shares of Albany International Corp. (NYSE:AIN – Free Report) by 14.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,378 shares of the textile maker’s stock after selling 1,856 shares during the quarter. Victory Capital Management Inc.’s holdings in Albany International were worth $1,061,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC raised its position in shares of Albany International by 0.8% during the 2nd quarter. DAVENPORT & Co LLC now owns 12,955 shares of the textile maker’s stock valued at $1,208,000 after buying an additional 109 shares during the period. Teacher Retirement System of Texas raised its position in Albany International by 3.2% in the second quarter. Teacher Retirement System of Texas now owns 8,596 shares of the textile maker’s stock valued at $802,000 after purchasing an additional 268 shares during the period. Integrated Investment Consultants LLC purchased a new stake in Albany International in the second quarter valued at approximately $472,000. Diversified Trust Co raised its position in Albany International by 42.6% in the second quarter. Diversified Trust Co now owns 4,100 shares of the textile maker’s stock valued at $382,000 after purchasing an additional 1,225 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in Albany International by 13.1% in the second quarter. Louisiana State Employees Retirement System now owns 16,400 shares of the textile maker’s stock valued at $1,530,000 after purchasing an additional 1,900 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.
Albany International Stock Performance
NYSE:AIN opened at $79.87 on Tuesday. The company has a fifty day simple moving average of $86.94 and a two-hundred day simple moving average of $89.64. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 3.28 and a beta of 1.30. The company has a quick ratio of 4.15, a current ratio of 4.99 and a debt-to-equity ratio of 0.53. Albany International Corp. has a 52 week low of $78.20 and a 52 week high of $115.39.
Albany International Dividend Announcement
Analysts Set New Price Targets
A number of brokerages have issued reports on AIN. Robert W. Baird raised Albany International from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $101.00 to $120.00 in a research report on Friday, July 14th. StockNews.com began coverage on Albany International in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, TD Cowen raised Albany International from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $100.00 to $106.00 in a research report on Monday, September 18th.
Check Out Our Latest Stock Report on AIN
Insiders Place Their Bets
In related news, SVP Robert Alan Hansen sold 4,167 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $93.60, for a total transaction of $390,031.20. Following the completion of the transaction, the senior vice president now owns 7,337 shares in the company, valued at $686,743.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.76% of the company’s stock.
Albany International Company Profile
Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, nonwovens, building products, tannery, and textiles.
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