GAMMA Investing LLC Grows Holdings in Albany International Corp. (NYSE:AIN)

GAMMA Investing LLC grew its stake 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 Securities and Exchange Commission. The fund owned 55,508 shares of the textile maker's stock after buying an additional 54,814 shares during the period. GAMMA Investing LLC owned 0.18% of Albany International worth $3,832,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Legato Capital Management LLC increased its stake in shares of Albany International by 16.4% in the fourth quarter. Legato Capital Management LLC now owns 16,221 shares of the textile maker's stock worth $1,297,000 after acquiring an additional 2,284 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of Albany International by 16.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 25,131 shares of the textile maker's stock worth $2,010,000 after acquiring an additional 3,472 shares during the period. New York State Common Retirement Fund increased its stake in shares of Albany International by 10.8% in the fourth quarter. New York State Common Retirement Fund now owns 260,506 shares of the textile maker's stock worth $20,833,000 after acquiring an additional 25,431 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Albany International by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker's stock worth $24,381,000 after acquiring an additional 9,091 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Albany International by 4.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 40,683 shares of the textile maker's stock worth $3,253,000 after acquiring an additional 1,723 shares during the period. Hedge funds and other institutional investors own 97.37% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on AIN. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird dropped their price target on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Truist Financial dropped their price target on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Bank of America dropped their price target on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $79.00.

Albany International Price Performance

Shares of NYSE AIN traded down $1.34 during trading on Friday, hitting $67.16. The company had a trading volume of 310,344 shares, compared to its average volume of 216,968. The stock has a fifty day simple moving average of $65.80 and a two-hundred day simple moving average of $73.71. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 20.99 and a beta of 1.31. Albany International Corp. has a fifty-two week low of $57.71 and a fifty-two week high of $95.47.

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

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, June 6th. This represents a $1.08 annualized dividend and a dividend yield of 1.61%. Albany International's dividend payout ratio is presently 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.