GW&K Investment Management LLC Grows Stake in Albany International Corporation (NYSE:AIN)

GW&K Investment Management LLC increased its position in Albany International Corporation (NYSE:AIN - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 176,352 shares of the textile maker's stock after purchasing an additional 5,462 shares during the quarter. GW&K Investment Management LLC owned approximately 0.57% of Albany International worth $12,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Verdence Capital Advisors LLC purchased a new position in Albany International during the first quarter valued at $467,000. Victory Capital Management Inc. increased its stake in shares of Albany International by 2.7% in the 1st quarter. Victory Capital Management Inc. now owns 744,158 shares of the textile maker's stock worth $51,377,000 after acquiring an additional 19,621 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Albany International by 6.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 830,948 shares of the textile maker's stock valued at $57,369,000 after acquiring an additional 53,400 shares during the period. Dakota Wealth Management boosted its stake in Albany International by 38.3% during the first quarter. Dakota Wealth Management now owns 12,883 shares of the textile maker's stock worth $889,000 after acquiring an additional 3,570 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in Albany International by 16.6% during the first quarter. Linden Thomas Advisory Services LLC now owns 8,179 shares of the textile maker's stock worth $565,000 after acquiring an additional 1,165 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Albany International Stock Up 0.5%

NYSE AIN traded up $0.36 during mid-day trading on Friday, reaching $72.17. The stock had a trading volume of 149,676 shares, compared to its average volume of 231,353. The stock has a market cap of $2.18 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. Albany International Corporation has a 1 year low of $57.71 and a 1 year high of $95.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.70 and a quick ratio of 2.92. The company has a fifty day moving average price of $68.76 and a 200 day moving average price of $71.41.

Albany International (NYSE:AIN - Get Free Report) last posted 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. Albany International had a return on equity of 9.79% and a net margin of 6.44%. The firm had revenue of $288.77 million during the quarter, compared to analysts' expectations of $300.74 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. The company's revenue was down 7.8% on a year-over-year basis. On average, research analysts expect that Albany International Corporation will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.50%. The ex-dividend date was Friday, June 6th. Albany International's dividend payout ratio is currently 43.55%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AIN shares. JPMorgan Chase & Co. raised their target price on shares of 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 reduced their price objective on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a research report on Monday, June 2nd. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Truist Financial cut their target price on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Albany International has a consensus rating of "Moderate Buy" and a consensus target price of $79.00.

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.