Albany International (NYSE:AIN) Rating Reaffirmed
In analysts report published on Wednesday, 9 December, The “Outperform” rating of Albany International (NYSE:AIN) shares was has decided to restate by Macquarie Research, who now has a $43.00 PT on the stock. Macquarie Research’s PT could mean a possible upside of 16.15% from the last stock close of the company.
The stock increased 2.72% or $0.99 on December 9, striking $37.36. Approximately 232,838 shares of stock traded hands or 75.53% up from the average. Albany International Corp. (NYSE:AIN) has declined 9.17% since May 6, 2015 and is downtrending. It has underperformed by 8.37% the S&P500.
The overall sentiment of institutions has decreased to 1.03 in Q2 2015. Its down 0.11, from 1.14 in 2015Q2. The ratio dived, as 14 institutions have sold all the shares of Albany International Corp. that they owned while 45 funds have taken shares off the table. 14 funds have purchased shares for the first time while 47 added to their positions. These institutions now hold 36.99 million shares or 35.00% more than the 27.40 million shares they owned in 2015Q2.
The Fund Independence Capital Asset Partners Llc currently is holding shares equating to 2.31% of its total portfolio in Albany International Corp. representing a total of 57,780 shares. Another fund,Gw Capital Inc, is holding a total of 683,187 shares equating to 1.27% of their holdings. Additionally, Rice Hall James & Associates Llc has a 447,163 share stake in Albany International Corp. which represents 0.83% of their total portfolio. The Fund, Lapides Asset Management Llc, based out of Connecticut, has also built up a stake in the stock, which represents a total of 0.75% of their total portfolio. Finally Investment Counselors Of Maryland Llc, a fund which is based in the state of Maryland reported a total holdings of 416,538 shares.
Albany International Corp. is an advanced textiles and materials processing company. The company has a market cap of $1.16 billion. The Firm operates through two business divisions: The Machine Clothing segment and the Albany Engineered Composites segment. It has 43.37 P/E ratio. The Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, non-wovens, fiber cement and several other industrial applications.
According to Zacks Investment Research, “ALBANY INTERNATIONAL CORP. designs, manufactures and markets paper machine clothing for each section of the paper machine. It is the largest producer of paper machine clothing in the world. Paper machine clothing consists of large continuous belts of custom designed and custom manufactured, engineered fabrics that are installed on paper machines and carry the paper stock through each stage of the paper production process. Paper machine clothing is a consumable product of technologically sophisticated design that is made with synthetic monofilament and fiber materials.” Get a free copy of the Zacks research report on Albany International Corp. (AIN).