GAMMA Investing LLC Boosts Stake in Albany International Corp. (NYSE:AIN)

GAMMA Investing LLC boosted its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 7,898.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,508 shares of the textile maker's stock after purchasing an additional 54,814 shares during the quarter. GAMMA Investing LLC owned about 0.18% of Albany International worth $3,832,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Albany International during the fourth quarter valued at approximately $40,000. Smartleaf Asset Management LLC grew its position in Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after purchasing an additional 503 shares during the period. Sterling Capital Management LLC increased its stake in Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after purchasing an additional 662 shares in the last quarter. Vestcor Inc acquired a new position in Albany International during the fourth quarter worth $70,000. Finally, Covestor Ltd raised its holdings in Albany International by 110.4% during the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker's stock worth $71,000 after buying an additional 466 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AIN has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Bank of America lowered their price objective on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a research note on Monday, June 2nd. Truist Financial decreased their price target on Albany International from $88.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Robert W. Baird cut their price target on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. upped their target price on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.00.

Albany International Stock Performance

Shares of NYSE:AIN traded down $0.31 during mid-day trading on Thursday, reaching $68.51. The company had a trading volume of 293,696 shares, compared to its average volume of 215,832. Albany International Corp. has a one year low of $57.71 and a one year high of $95.47. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The company's 50-day moving average price is $65.48 and its 200-day moving average price is $74.01. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 21.41 and a beta of 1.31.

Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.15. The firm had revenue of $288.77 million for the quarter, compared to analysts' expectations of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. As a group, equities research analysts anticipate that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 6th will be paid a $0.27 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a yield of 1.58%. Albany International's dividend payout ratio is 43.55%.

Albany International Company 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.