Gilman Hill Asset Management LLC Boosts Stock Position in Albany International Corp. (NYSE:AIN)

Gilman Hill Asset Management LLC grew its stake in shares of Albany International Corp. (NYSE:AIN - Free Report) by 19.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 44,554 shares of the textile maker's stock after acquiring an additional 7,366 shares during the quarter. Gilman Hill Asset Management LLC owned about 0.14% of Albany International worth $3,076,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Albany International during the 4th quarter worth $40,000. Smartleaf Asset Management LLC increased its holdings in Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after purchasing an additional 503 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock worth $60,000 after purchasing an additional 662 shares in the last quarter. Vestcor Inc acquired a new position in Albany International in the 4th quarter worth about $70,000. Finally, Covestor Ltd increased its holdings in Albany International by 110.4% in the 4th quarter. Covestor Ltd now owns 888 shares of the textile maker's stock worth $71,000 after purchasing an additional 466 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Albany International Stock Up 0.8%

NYSE:AIN traded up $0.53 on Friday, hitting $67.05. The stock had a trading volume of 133,659 shares, compared to its average volume of 213,744. The business's fifty day moving average is $65.33 and its 200 day moving average is $74.20. The company has a market cap of $2.02 billion, a PE ratio of 20.95 and a beta of 1.31. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International Corp. has a 52 week low of $57.71 and a 52 week high of $95.47.

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

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.61%. Albany International's dividend payout ratio is presently 43.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird lowered their target price on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. increased their price target on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Bank of America decreased their price target 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. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, 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 research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Albany International presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.00.

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.