Albany International Corp. (NYSE:AIN) Shares Bought by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC increased its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 19.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,554 shares of the textile maker's stock after purchasing an additional 7,366 shares during the quarter. Gilman Hill Asset Management LLC owned 0.14% of Albany International worth $3,076,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AIN. Public Employees Retirement System of Ohio acquired a new stake in Albany International during the 4th quarter valued at approximately $40,000. Smartleaf Asset Management LLC raised its holdings in shares of Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after purchasing an additional 503 shares during the last quarter. Sterling Capital Management LLC lifted its position in Albany International by 735.6% during the fourth 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 during the period. Vestcor Inc purchased a new stake in Albany International in the fourth quarter valued at $70,000. Finally, Covestor Ltd boosted its holdings in Albany International by 110.4% in the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker's stock valued at $71,000 after purchasing an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company's stock.

Analyst Ratings Changes

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

Albany International Price Performance

Shares of AIN stock traded up $0.53 during trading hours on Friday, hitting $67.05. 133,659 shares of the company's stock were exchanged, compared to its average volume of 212,715. Albany International Corp. has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The firm has a market cap of $2.02 billion, a P/E 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. The firm has a 50 day moving average of $65.39 and a two-hundred day moving average of $74.43.

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

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, June 6th. This represents a $1.08 annualized dividend and a yield of 1.61%. Albany International's dividend payout ratio (DPR) is presently 43.55%.

About Albany International

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.