Gilman Hill Asset Management LLC Boosts Stock Position in Albany International Corp. (NYSE:AIN)

Gilman Hill Asset Management LLC raised its stake in shares of Albany International Corp. (NYSE:AIN) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,554 shares of the textile maker’s stock after acquiring an additional 7,366 shares during the period. Gilman Hill Asset Management LLC owned approximately 0.14% of Albany International worth $3,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in Albany International by 7,898.3% during the 1st quarter. GAMMA Investing LLC now owns 55,508 shares of the textile maker’s stock valued at $3,832,000 after acquiring an additional 54,814 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Albany International during the 4th quarter valued at approximately $213,000. Public Employees Retirement System of Ohio purchased a new stake in Albany International during the 4th quarter valued at approximately $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Albany International by 20.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,640 shares of the textile maker’s stock valued at $4,450,000 after acquiring an additional 9,492 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its stake in shares of Albany International by 88.9% during the 4th quarter. Voloridge Investment Management LLC now owns 105,991 shares of the textile maker’s stock worth $8,476,000 after buying an additional 49,873 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AIN. JPMorgan Chase & Co. increased their target price on 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 cut their target price on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Truist Financial cut their target price on Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Wall Street Zen raised Albany International from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, Bank of America cut their target price on Albany International from $75.00 to $65.00 and set an “underperform” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Albany International Stock Performance

AIN opened at $66.48 on Thursday. The stock has a market cap of $2.01 billion, a P/E ratio of 20.78 and a beta of 1.37. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The stock’s 50 day simple moving average is $65.45 and its 200 day simple moving average is $74.54. Albany International Corp. has a 1-year low of $57.71 and a 1-year high of $95.47.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.15. The business had revenue of $288.77 million for the quarter, compared to analysts’ expectations of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. As a group, equities analysts anticipate that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 6th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, June 6th. Albany International’s dividend payout ratio is currently 43.55%.

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.