Bank of America Corp DE Boosts Stock Holdings in Albany International Corporation $AIN

Key Points

• Bank of America increased its Albany International stake by 18.2% in the first quarter to 1.04 million shares, worth approximately $54.5 million. Institutional investors collectively own 97.37% of the company.
• Albany International beat quarterly EPS expectations, reporting $0.82 versus the $0.74 consensus, while revenue rose 5.8% year over year to $329.5 million but fell short of estimates.
• The stock opened at $62.97, above its 200-day average but below its 50-day average. Analysts maintain a generally cautious view, with an average rating of “Reduce” and a $54 price target; the company also pays a quarterly dividend of $0.28 per share.

Bank of America Corp DE raised its stake in Albany International Corporation (NYSE:AIN - Free Report) by 18.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,043,579 shares of the textile maker's stock after acquiring an additional 160,370 shares during the period. Bank of America Corp DE owned approximately 3.67% of Albany International worth $54,485,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in Albany International by 11,101.8% during the third quarter. Franklin Resources Inc. now owns 648,810 shares of the textile maker's stock valued at $32,324,000 after buying an additional 643,018 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Albany International by 199.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 644,605 shares of the textile maker's stock worth $33,655,000 after acquiring an additional 429,561 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Albany International during the 4th quarter worth approximately $18,507,000. Millennium Management LLC boosted its position in shares of Albany International by 1,078.5% during the 3rd quarter. Millennium Management LLC now owns 313,830 shares of the textile maker's stock valued at $16,727,000 after acquiring an additional 287,200 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its position in shares of Albany International by 1,809.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 216,122 shares of the textile maker's stock valued at $11,519,000 after acquiring an additional 204,801 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Stock Performance

NYSE AIN opened at $62.97 on Wednesday. The business's 50 day moving average price is $71.39 and its 200-day moving average price is $62.36. Albany International Corporation has a fifty-two week low of $41.15 and a fifty-two week high of $77.00. The company has a market cap of $1.79 billion, a P/E ratio of -36.19, a P/E/G ratio of 1.70 and a beta of 1.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.89 and a current ratio of 2.24.

Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The textile maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.08. The company had revenue of $329.48 million during the quarter, compared to the consensus estimate of $340.10 million. Albany International had a positive return on equity of 10.76% and a negative net margin of 4.18%.Albany International's revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. Albany International has set its Q3 2026 guidance at 0.600-0.700 EPS. Sell-side analysts predict that Albany International Corporation will post 2.87 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Friday, June 5th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, June 5th. Albany International's payout ratio is -64.37%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AIN shares. Weiss Ratings upgraded shares of Albany International from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Finally, Truist Financial lifted their price objective on shares of Albany International from $55.00 to $61.00 and gave the stock a "hold" rating in a research note on Friday, June 12th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $54.00.

Albany International Company Profile

Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.

In the Process Media segment, Albany's products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.

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