Albany International Corporation $AIN Shares Acquired by Roubaix Capital LLC

Key Points

• Roubaix Capital LLC has increased its stake in Albany International Corporation by 13.4%, owning 66,117 shares, making it the 17th largest holding in their portfolio.
• Albany International's stock was reported at $63.09, experiencing a market capitalization of $1.86 billion, while the stock's price target varies among analysts from $55.00 to $79.00.
• In its latest quarterly earnings, Albany International reported an EPS of $0.57, falling short of analysts' expectations, with a revenue decline of 6.2% compared to the previous year.

Roubaix Capital LLC lifted its holdings in shares of Albany International Corporation (NYSE:AIN - Free Report) by 13.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,117 shares of the textile maker's stock after purchasing an additional 7,789 shares during the quarter. Albany International comprises about 2.4% of Roubaix Capital LLC's investment portfolio, making the stock its 17th biggest position. Roubaix Capital LLC owned about 0.22% of Albany International worth $4,565,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Albany International during the first quarter worth $18,985,000. Teacher Retirement System of Texas boosted its holdings in shares of Albany International by 5.5% during the first quarter. Teacher Retirement System of Texas now owns 69,301 shares of the textile maker's stock worth $4,785,000 after purchasing an additional 3,608 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Albany International during the first quarter worth $407,000. QRG Capital Management Inc. boosted its holdings in shares of Albany International by 20.2% during the first quarter. QRG Capital Management Inc. now owns 4,089 shares of the textile maker's stock worth $282,000 after purchasing an additional 686 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Albany International by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 156,089 shares of the textile maker's stock worth $10,776,000 after buying an additional 2,549 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company's stock.

Albany International Stock Up 5.2%

Albany International stock traded up $3.2390 during trading on Friday, reaching $65.6090. 120,647 shares of the company's stock were exchanged, compared to its average volume of 265,913. The company's 50-day moving average is $67.17 and its two-hundred day moving average is $69.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. Albany International Corporation has a 52-week low of $50.60 and a 52-week high of $94.20. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 1.44 and a beta of 1.38.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AIN shares. Truist Financial restated a "hold" rating and set a $55.00 price objective (down from $70.00) on shares of Albany International in a report on Friday, August 1st. Baird R W downgraded Albany International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. upped their price objective on Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Robert W. Baird downgraded Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price objective for the company. in a report on Thursday, July 31st. Finally, Bank of America dropped their price objective on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $71.40.

Albany International 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.