Kayne Anderson Rudnick Investment Management LLC Purchases 13,251 Shares of Albany International Corporation $AIN

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its holdings in Albany International by 1.4%, owning approximately 3.18% of the company, worth $66.4 million.
• Recent analyst reports show mixed ratings for Albany International, with price targets ranging from $55 to $79, indicating a general shift towards more conservative outlooks.
• Albany International will pay a quarterly dividend of $0.27 on October 7, with an annualized yield of 1.7%, and a current payout ratio of 54%.

Kayne Anderson Rudnick Investment Management LLC raised its stake in Albany International Corporation (NYSE:AIN - Free Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 961,513 shares of the textile maker's stock after acquiring an additional 13,251 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 3.18% of Albany International worth $66,383,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC bought a new stake in shares of Albany International during the 1st quarter worth $1,740,000. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Albany International by 15.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 156,378 shares of the textile maker's stock worth $10,796,000 after buying an additional 20,458 shares during the last quarter. Advantage Alpha Capital Partners LP lifted its position in shares of Albany International by 173.8% during the 1st quarter. Advantage Alpha Capital Partners LP now owns 77,127 shares of the textile maker's stock worth $5,325,000 after buying an additional 48,963 shares during the last quarter. EntryPoint Capital LLC lifted its position in shares of Albany International by 133.3% during the 1st quarter. EntryPoint Capital LLC now owns 15,072 shares of the textile maker's stock worth $1,041,000 after buying an additional 8,611 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Albany International by 184.7% during the 1st quarter. Hsbc Holdings PLC now owns 11,238 shares of the textile maker's stock worth $779,000 after buying an additional 7,290 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AIN shares. Bank of America lowered 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. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Baird R W cut Albany International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Robert W. Baird cut Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 target price for the company. in a report on Thursday, July 31st. Finally, Truist Financial reissued a "hold" rating and issued a $55.00 price target (down previously from $70.00) on shares of Albany International in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $71.40.

Albany International Trading Down 0.7%

Shares of Albany International stock traded down $0.42 on Friday, hitting $63.50. 186,379 shares of the company's stock traded hands, compared to its average volume of 266,683. Albany International Corporation has a one year low of $50.60 and a one year 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. The company has a fifty day moving average of $66.84 and a two-hundred day moving average of $68.54. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 1.52 and a beta of 1.38.

Albany International (NYSE:AIN - Get Free Report) last announced its 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 business had revenue of $311.40 million for the quarter, compared to the consensus estimate of $306.06 million. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 EPS. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. As a group, sell-side analysts expect that Albany International Corporation will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

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

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.