Granite Investment Partners LLC increased its stake in Albany International Corporation (NYSE:AIN) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 297,228 shares of the textile maker’s stock after buying an additional 10,772 shares during the period. Albany International Corporation makes up about 1.1% of Granite Investment Partners LLC’s investment portfolio, making the stock its 18th largest position. Granite Investment Partners LLC’s holdings in Albany International Corporation were worth $15,872,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AIN. Schwab Charles Investment Management Inc. increased its stake in shares of Albany International Corporation by 3.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 174,375 shares of the textile maker’s stock valued at $9,312,000 after buying an additional 5,840 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Albany International Corporation during the second quarter valued at $4,465,000. TD Asset Management Inc. increased its stake in shares of Albany International Corporation by 10.9% in the second quarter. TD Asset Management Inc. now owns 10,200 shares of the textile maker’s stock valued at $545,000 after buying an additional 1,000 shares during the last quarter. Sei Investments Co. increased its stake in shares of Albany International Corporation by 16.5% in the second quarter. Sei Investments Co. now owns 53,524 shares of the textile maker’s stock valued at $2,858,000 after buying an additional 7,568 shares during the last quarter. Finally, Texas Permanent School Fund increased its stake in shares of Albany International Corporation by 0.8% in the second quarter. Texas Permanent School Fund now owns 21,100 shares of the textile maker’s stock valued at $1,127,000 after buying an additional 176 shares during the last quarter. 88.72% of the stock is owned by institutional investors.
Albany International Corporation (NYSE:AIN) opened at 51.00 on Thursday. The stock has a market cap of $1.64 billion, a P/E ratio of 40.16 and a beta of 1.72. Albany International Corporation has a one year low of $37.00 and a one year high of $55.15. The company has a 50-day moving average price of $53.03 and a 200-day moving average price of $48.72.
Albany International Corporation (NYSE:AIN) last released its earnings results on Tuesday, August 1st. The textile maker reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.36. Albany International Corporation had a return on equity of 8.42% and a net margin of 4.98%. The firm had revenue of $215.57 million for the quarter. On average, analysts anticipate that Albany International Corporation will post $1.90 earnings per share for the current year.
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Separately, BidaskClub downgraded Albany International Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
In related news, insider Daniel A. Halftermeyer sold 17,300 shares of Albany International Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $53.29, for a total transaction of $921,917.00. Following the sale, the insider now directly owns 66,377 shares of the company’s stock, valued at $3,537,230.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 11.63% of the stock is owned by company insiders.
About Albany International Corporation
Albany International Corp. is focused on textiles and materials processing business. The Company operates through two segments: Machine Clothing and Albany Engineered Composites. The Company’s Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.
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