GAMMA Investing LLC Buys 225 Shares of Albany International Corp. (NYSE:AIN)

GAMMA Investing LLC grew its stake in Albany International Corp. (NYSE:AIN) by 33.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 899 shares of the textile maker’s stock after acquiring an additional 225 shares during the period. GAMMA Investing LLC’s holdings in Albany International were worth $80,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. grew its stake in Albany International by 94.7% in the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares in the last quarter. Hilltop National Bank raised its stake in Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after buying an additional 134 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Albany International in the 1st quarter worth approximately $102,000. Central Pacific Bank Trust Division acquired a new stake in shares of Albany International during the first quarter worth $128,000. Finally, EntryPoint Capital LLC grew its stake in Albany International by 69.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,931 shares of the textile maker’s stock valued at $181,000 after purchasing an additional 794 shares during the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Stock Up 1.0 %

Shares of NYSE AIN opened at $73.05 on Tuesday. The stock has a market cap of $2.28 billion, a PE ratio of 20.52, a P/E/G ratio of 2.39 and a beta of 1.25. The company has a 50-day moving average of $86.06 and a 200 day moving average of $87.02. Albany International Corp. has a 12-month low of $69.19 and a 12-month high of $99.41. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38.

Albany International (NYSE:AIN) last released 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). The company had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. As a group, sell-side analysts predict that Albany International Corp. will post 3.11 EPS for the current fiscal year.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio is presently 29.21%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen cut their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Truist Financial decreased their price target on shares of Albany International from $101.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. One 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, Albany International currently has a consensus rating of “Hold” and an average price target of $89.50.

Albany International 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.