EntryPoint Capital LLC Buys 8,611 Shares of Albany International Corporation $AIN

Key Points

• EntryPoint Capital LLC increased its stake in Albany International Corporation by 133.3%, acquiring an additional 8,611 shares, bringing its total holdings to 15,072 shares.
• Albany International reported a missed earnings estimate of $0.57 per share for the last quarter, compared to the expected $0.73, with a revenue of $311.40 million.
• Analysts have given mixed ratings on the stock, with one upgrade to a "buy" and several downgrades leading to an average rating of "Hold" and a target price of $71.40.

EntryPoint Capital LLC raised its stake in Albany International Corporation (NYSE:AIN - Free Report) by 133.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,072 shares of the textile maker's stock after purchasing an additional 8,611 shares during the quarter. Albany International comprises about 0.5% of EntryPoint Capital LLC's investment portfolio, making the stock its 3rd biggest position. EntryPoint Capital LLC's holdings in Albany International were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Earnest Partners LLC raised its holdings in shares of Albany International by 3.9% during the 4th quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker's stock valued at $211,209,000 after buying an additional 99,149 shares during the period. Bank of America Corp DE grew its position in Albany International by 3,050.6% in the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock valued at $109,075,000 after acquiring an additional 1,320,654 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Albany International by 45.3% during the first quarter. American Century Companies Inc. now owns 1,233,925 shares of the textile maker's stock valued at $85,190,000 after purchasing an additional 384,546 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Albany International by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker's stock worth $88,217,000 after purchasing an additional 9,226 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Albany International by 6.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 830,948 shares of the textile maker's stock valued at $57,369,000 after purchasing an additional 53,400 shares during the period. Institutional investors and hedge funds own 97.37% of the company's stock.

Albany International Stock Performance

Shares of NYSE AIN traded down $0.4650 during trading on Monday, reaching $64.7750. The stock had a trading volume of 73,821 shares, compared to its average volume of 265,988. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. The stock has a market cap of $1.91 billion, a PE ratio of 32.39, a P/E/G ratio of 1.53 and a beta of 1.38. Albany International Corporation has a one year low of $50.60 and a one year high of $94.20. The firm's 50 day moving average price is $67.13 and its two-hundred day moving average price is $68.83.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.16). Albany International had a return on equity of 8.87% and a net margin of 5.25%.The firm had revenue of $311.40 million for the quarter, compared to the consensus estimate of $306.06 million. During the same quarter last year, the business earned $0.89 earnings per share. The business's revenue for the quarter was down 6.2% compared to the same quarter last year. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. On average, research analysts forecast that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.7%. Albany International's dividend payout ratio (DPR) is 54.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Bank of America dropped their target price on Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a research report on Monday, June 2nd. Baird R W cut Albany International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Truist Financial restated a "hold" rating and set a $55.00 price objective (down previously from $70.00) on shares of Albany International in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Albany International has an average rating of "Hold" and an average target price of $71.40.

About Albany International

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.