William Blair Investment Management LLC Has $49.26 Million Stock Holdings in Albany International Corporation $AIN

William Blair Investment Management LLC lessened its holdings in shares of Albany International Corporation (NYSE:AIN) by 2.8% in the second quarter, Holdings Channel.com reports. The fund owned 702,432 shares of the textile maker’s stock after selling 19,917 shares during the quarter. William Blair Investment Management LLC’s holdings in Albany International were worth $49,262,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in Albany International by 5.6% during the 2nd quarter. Blue Trust Inc. now owns 3,237 shares of the textile maker’s stock worth $227,000 after acquiring an additional 172 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Albany International by 2.9% during the second quarter. Verdence Capital Advisors LLC now owns 6,960 shares of the textile maker’s stock worth $488,000 after purchasing an additional 193 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Albany International by 0.5% during the first quarter. Gamco Investors INC. ET AL now owns 49,330 shares of the textile maker’s stock worth $3,406,000 after purchasing an additional 250 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Albany International by 3.0% during the first quarter. DAVENPORT & Co LLC now owns 12,464 shares of the textile maker’s stock worth $860,000 after purchasing an additional 360 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Albany International by 2,241.2% during the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock worth $27,000 after purchasing an additional 381 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Trading Down 1.0%

AIN opened at $56.09 on Friday. The stock has a market capitalization of $1.65 billion, a P/E ratio of 28.05, a P/E/G ratio of 1.34 and a beta of 1.36. Albany International Corporation has a 12 month low of $50.60 and a 12 month high of $88.13. The firm’s fifty day simple moving average is $58.99 and its 200 day simple moving average is $63.98. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, May 25th. The textile maker reported $0.43 EPS for the quarter. The business had revenue of $239.92 million for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. As a group, research analysts anticipate that Albany International Corporation will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.08 annualized dividend and a yield of 1.9%. Albany International’s payout ratio is 54.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Robert W. Baird cut shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target on the stock. in a research report on Thursday, July 31st. Truist Financial reissued a “hold” rating and set a $55.00 price target (down from $70.00) on shares of Albany International in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Albany International in a research report on Wednesday, October 8th. Finally, Baird R W cut shares of Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $65.50.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites 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 for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.