GSA Capital Partners LLP Acquires 6,605 Shares of Albany International Corp. (NYSE:AIN)

GSA Capital Partners LLP raised its holdings in Albany International Corp. (NYSE:AIN) by 201.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,878 shares of the textile maker’s stock after buying an additional 6,605 shares during the period. GSA Capital Partners LLP’s holdings in Albany International were worth $924,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AIN. Norges Bank bought a new position in shares of Albany International during the fourth quarter worth approximately $33,273,000. Wellington Management Group LLP increased its stake in shares of Albany International by 12.1% during the third quarter. Wellington Management Group LLP now owns 468,190 shares of the textile maker’s stock worth $40,395,000 after purchasing an additional 50,653 shares during the period. Diversified Trust Co grew its position in Albany International by 10.4% during the fourth quarter. Diversified Trust Co now owns 6,900 shares of the textile maker’s stock worth $678,000 after buying an additional 650 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Albany International during the fourth quarter worth approximately $47,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in Albany International during the fourth quarter worth approximately $12,803,000. Institutional investors own 97.37% of the company’s stock.

Albany International Trading Up 1.8 %

Shares of AIN stock opened at $82.73 on Thursday. Albany International Corp. has a fifty-two week low of $78.20 and a fifty-two week high of $99.41. The company has a market cap of $2.58 billion, a PE ratio of 23.24, a P/E/G ratio of 2.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.20 and a current ratio of 3.99. The stock’s fifty day moving average price is $86.07 and its two-hundred day moving average price is $89.46.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $313.33 million during the quarter, compared to analysts’ expectations of $313.41 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. Albany International’s revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS. Equities analysts predict that Albany International Corp. will post 3.8 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 7th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, June 7th. Albany International’s dividend payout ratio is currently 29.21%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AIN. Truist Financial reduced their price target on Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Bank of America reduced their target price on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a report on Wednesday, May 29th. JPMorgan Chase & Co. reduced their target price on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, TD Cowen reduced their target price on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $101.00.

Insider Buying and Selling

In other Albany International news, CFO Robert D. Starr acquired 1,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $84.44 per share, with a total value of $84,440.00. Following the transaction, the chief financial officer now owns 2,610 shares in the company, valued at approximately $220,388.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Albany International news, CFO Robert D. Starr acquired 1,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $84.44 per share, with a total value of $84,440.00. Following the transaction, the chief financial officer now owns 2,610 shares in the company, valued at approximately $220,388.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gunnar Kleveland acquired 1,250 shares of the stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $84.68 per share, with a total value of $105,850.00. Following the completion of the transaction, the chief executive officer now owns 6,884 shares in the company, valued at approximately $582,937.12. The disclosure for this purchase can be found here. 0.92% of the stock is owned by corporate insiders.

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.