Zacks Investment Research downgraded shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Albany International Corp. is a global advanced textiles and materials processing company. Albany International has two core businesses, The Machine Clothing segment is the world’s leading producer of custom-designed fabrics and belts essential to production in the paper, nonwovens, and other process industries. Albany Engineered Composites (AEC) is a rapidly growing supplier of highly engineered composite parts for the aerospace industry. Albany International products and technologies help make paper smoother, tissue softer, and aircraft engines and structures lighter. “

A number of other equities analysts also recently weighed in on AIN. Noble Financial reaffirmed a hold rating on shares of Albany International in a research note on Wednesday, August 8th. ValuEngine downgraded shares of Albany International from a buy rating to a hold rating in a research note on Monday, August 13th. Finally, Stephens reaffirmed a hold rating on shares of Albany International in a research note on Thursday, August 16th.

NYSE:AIN traded down $0.68 during trading hours on Wednesday, hitting $73.47. 113,848 shares of the stock traded hands, compared to its average volume of 133,077. The company has a quick ratio of 2.41, a current ratio of 2.90 and a debt-to-equity ratio of 0.87. Albany International has a fifty-two week low of $57.95 and a fifty-two week high of $82.20. The company has a market cap of $2.37 billion, a P/E ratio of 45.63 and a beta of 1.72.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, October 30th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.15. Albany International had a net margin of 7.51% and a return on equity of 14.33%. The company had revenue of $253.25 million for the quarter, compared to the consensus estimate of $248.50 million. Equities research analysts anticipate that Albany International will post 2.54 earnings per share for the current year.

In other news, VP Dawne H. Wimbrow sold 900 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $75.90, for a total value of $68,310.00. Following the transaction, the vice president now directly owns 300 shares of the company’s stock, valued at $22,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.75% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AIN. FDx Advisors Inc. increased its position in Albany International by 20.6% during the second quarter. FDx Advisors Inc. now owns 4,466 shares of the textile maker’s stock worth $269,000 after buying an additional 764 shares during the last quarter. Bank of Montreal Can increased its position in Albany International by 40.2% during the third quarter. Bank of Montreal Can now owns 3,422 shares of the textile maker’s stock worth $273,000 after buying an additional 982 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Albany International during the second quarter worth $280,000. Ramsey Quantitative Systems acquired a new position in Albany International during the second quarter worth $295,000. Finally, Dynamic Technology Lab Private Ltd increased its position in Albany International by 32.7% during the second quarter. Dynamic Technology Lab Private Ltd now owns 5,065 shares of the textile maker’s stock worth $305,000 after buying an additional 1,247 shares during the last quarter. 88.68% of the stock is currently owned by institutional investors and hedge funds.

Albany International Company Profile

Albany International Corp. engages in textile and materials processing businesses worldwide. The company operates through 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, dryer fabrics, and process belts.

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