Jump Financial LLC Purchases New Shares in Albany International Corporation $AIN

Key Points

• Jump Financial LLC acquired 25,198 shares of Albany International Corporation, totaling approximately $1.74 million, representing 0.08% of the company's stock as of the last reporting period.
• Albany International reported Q2 earnings of $0.57 per share, missing estimates, with revenues of $311.4 million, down 6.2% year-over-year.
• The company set its FY 2025 earnings guidance at $3.00-3.40 EPS, while research analysts have a consensus price target of $71.40 for the stock.

Jump Financial LLC purchased a new stake in Albany International Corporation (NYSE:AIN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 25,198 shares of the textile maker's stock, valued at approximately $1,740,000. Jump Financial LLC owned 0.08% of Albany International as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE raised its position in Albany International by 3,050.6% in the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock valued at $109,075,000 after purchasing an additional 1,320,654 shares during the period. American Century Companies Inc. raised its holdings in shares of Albany International by 45.3% in the 1st quarter. American Century Companies Inc. now owns 1,233,925 shares of the textile maker's stock valued at $85,190,000 after buying an additional 384,546 shares during the period. Nuveen LLC purchased a new stake in shares of Albany International in the 1st quarter valued at $18,985,000. Invenomic Capital Management LP purchased a new position in Albany International during the 4th quarter valued at about $11,583,000. Finally, Deutsche Bank AG boosted its stake in shares of Albany International by 349.3% in the fourth quarter. Deutsche Bank AG now owns 80,367 shares of the textile maker's stock valued at $6,427,000 after purchasing an additional 62,480 shares during the period. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Stock Down 0.7%

Shares of AIN traded down $0.42 during mid-day trading on Monday, reaching $63.50. The company's stock had a trading volume of 186,576 shares, compared to its average volume of 319,171. The company's 50 day moving average is $66.75 and its 200 day moving average is $68.26. The stock has a market cap of $1.87 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.39. Albany International Corporation has a 12-month low of $50.60 and a 12-month high of $94.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.57 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.16). The company had revenue of $311.40 million during the quarter, compared to analysts' expectations of $306.06 million. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The business's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. Equities analysts anticipate that Albany International Corporation will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.08 annualized dividend and a dividend yield of 1.7%. Albany International's dividend payout ratio (DPR) is presently 54.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AIN shares. JPMorgan Chase & Co. upped their target price on shares of Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Robert W. Baird lowered Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price objective on the stock. in a research report on Thursday, July 31st. Bank of America decreased their target price on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a report on Monday, June 2nd. Baird R W lowered Albany International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $71.40.

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.