Gabelli Funds LLC Increases Stock Position in Albany International Corp. (NYSE:AIN)

Gabelli Funds LLC increased its position in shares of Albany International Corp. (NYSE:AIN) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 52,600 shares of the textile maker’s stock after buying an additional 200 shares during the period. Gabelli Funds LLC’s holdings in Albany International were worth $4,442,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AIN. Sei Investments Co. grew its stake in shares of Albany International by 2.0% during the second quarter. Sei Investments Co. now owns 708,373 shares of the textile maker’s stock valued at $59,822,000 after acquiring an additional 13,581 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Albany International during the 2nd quarter valued at approximately $446,000. Inspire Investing LLC increased its holdings in Albany International by 7.7% during the 2nd quarter. Inspire Investing LLC now owns 4,150 shares of the textile maker’s stock worth $350,000 after purchasing an additional 297 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Albany International in the 2nd quarter valued at approximately $349,000. Finally, Connors Investor Services Inc. purchased a new position in shares of Albany International during the 2nd quarter valued at approximately $2,552,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AIN shares. Truist Financial cut their price target on shares of Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Bank of America lowered their price objective on Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.50.

Albany International Stock Up 0.4 %

AIN stock opened at $86.58 on Wednesday. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 2.36 and a beta of 1.26. Albany International Corp. has a 1-year low of $78.20 and a 1-year high of $99.41. The firm has a fifty day moving average price of $88.87 and a two-hundred day moving average price of $88.24. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The business had revenue of $331.99 million for the quarter, compared to the consensus estimate of $318.17 million. During the same period in the prior year, the company earned $0.90 EPS. Albany International’s quarterly revenue was up 21.1% on a year-over-year basis. Research analysts predict that Albany International Corp. will post 3.71 EPS for the current year.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Tuesday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is 29.21%.

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.