Gabelli Funds LLC Buys 132,226 Shares of Albany International Corporation $AIN

Key Points

• Gabelli Funds increased its Albany International stake by 88.5%, purchasing 132,226 additional shares to own 281,703 shares valued at approximately $14.7 million. Institutional investors collectively hold 97.37% of the company.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Sell, producing an average “Reduce” rating and a $62.33 price target, below the recent $75.26 share price.
• Albany International exceeded quarterly earnings and revenue expectations, reporting $0.60 in EPS and $311.33 million in revenue, while declaring a quarterly dividend of $0.28 per share, equivalent to a 1.5% annual yield.

Gabelli Funds LLC increased its stake in shares of Albany International Corporation (NYSE:AIN - Free Report) by 88.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 281,703 shares of the textile maker's stock after buying an additional 132,226 shares during the period. Gabelli Funds LLC owned about 0.99% of Albany International worth $14,708,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Gamco Investors INC. ET AL boosted its stake in Albany International by 199.8% in the first quarter. Gamco Investors INC. ET AL now owns 644,605 shares of the textile maker's stock valued at $33,655,000 after acquiring an additional 429,561 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Albany International by 796.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 37,166 shares of the textile maker's stock worth $1,940,000 after purchasing an additional 33,021 shares during the last quarter. Inceptionr LLC purchased a new stake in shares of Albany International during the 1st quarter worth approximately $219,000. Sei Investments Co. raised its holdings in shares of Albany International by 1.4% in the 1st quarter. Sei Investments Co. now owns 786,470 shares of the textile maker's stock worth $41,062,000 after purchasing an additional 10,878 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Albany International by 8.0% in the 1st quarter. Cetera Investment Advisers now owns 17,414 shares of the textile maker's stock worth $909,000 after purchasing an additional 1,293 shares during the period. Institutional investors own 97.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Truist Financial increased their price objective on Albany International from $55.00 to $61.00 and gave the company a "hold" rating in a report on Friday, June 12th. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Albany International in a research note on Wednesday, June 24th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $62.33.

Albany International Price Performance

Shares of NYSE:AIN opened at $75.26 on Monday. The company has a quick ratio of 1.88, a current ratio of 2.20 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $2.14 billion, a PE ratio of -36.89, a P/E/G ratio of 3.22 and a beta of 1.17. Albany International Corporation has a twelve month low of $41.15 and a twelve month high of $76.99. The company has a 50-day moving average price of $69.99 and a two-hundred day moving average price of $61.37.

Albany International (NYSE:AIN - Get Free Report) last posted its earnings results on Thursday, April 30th. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. Albany International had a negative net margin of 4.93% and a positive return on equity of 9.44%. The firm had revenue of $311.33 million during the quarter, compared to the consensus estimate of $281.00 million. During the same quarter last year, the company earned $0.73 earnings per share. The company's revenue was up 7.8% on a year-over-year basis. Albany International has set its Q2 2026 guidance at 0.700-0.800 EPS. Equities analysts forecast that Albany International Corporation will post 2.79 EPS for the current year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Friday, June 5th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, June 5th. Albany International's payout ratio is currently -54.90%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.