Swiss National Bank Trims Stake in Albany International Corp. (NYSE:AIN)

Swiss National Bank cut its stake in shares of Albany International Corp. (NYSE:AINGet Rating) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,000 shares of the textile maker’s stock after selling 1,600 shares during the period. Swiss National Bank’s holdings in Albany International were worth $5,909,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Lazard Asset Management LLC purchased a new stake in Albany International in the 2nd quarter worth approximately $77,000. Rice Hall James & Associates LLC bought a new position in Albany International in the 2nd quarter worth $4,988,000. M&T Bank Corp increased its stake in Albany International by 26.2% in the 2nd quarter. M&T Bank Corp now owns 13,026 shares of the textile maker’s stock worth $1,026,000 after buying an additional 2,708 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Albany International by 6.4% in the 2nd quarter. Loomis Sayles & Co. L P now owns 760,320 shares of the textile maker’s stock worth $59,906,000 after buying an additional 45,940 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Albany International by 13.9% in the second quarter. Fifth Third Bancorp now owns 9,717 shares of the textile maker’s stock valued at $766,000 after acquiring an additional 1,187 shares in the last quarter. Institutional investors own 98.94% of the company’s stock.

Albany International Stock Down 0.3 %

NYSE AIN opened at $101.99 on Thursday. The stock has a 50 day moving average price of $89.35 and a 200-day moving average price of $86.31. Albany International Corp. has a one year low of $75.24 and a one year high of $105.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.56 and a current ratio of 4.27. The company has a market capitalization of $3.17 billion, a P/E ratio of 30.54, a P/E/G ratio of 3.42 and a beta of 1.29.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AIN shares. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Wednesday, October 26th. Alembic Global Advisors lowered shares of Albany International from an “overweight” rating to a “neutral” rating and set a $110.00 target price for the company. in a research report on Tuesday, August 16th. Robert W. Baird boosted their price target on shares of Albany International from $95.00 to $101.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 26th. Finally, Truist Financial downgraded shares of Albany International from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a report on Wednesday, October 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.25.

Albany International Company Profile

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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, and towels.

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

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