ExodusPoint Capital Management LP Invests $2.26 Million in Albany International Corp. (NYSE:AIN)

Posted by Defense World Staff on Sep 1st, 2023

ExodusPoint Capital Management LP acquired a new stake in Albany International Corp. (NYSE:AIN – Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 25,311 shares of the textile maker’s stock, valued at approximately $2,262,000. ExodusPoint Capital Management LP owned about 0.08% of Albany International at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AIN. Orion Capital Management LLC bought a new stake in shares of Albany International in the first quarter worth about $30,000. Parallel Advisors LLC increased its holdings in shares of Albany International by 5,237.5% in the first quarter. Parallel Advisors LLC now owns 427 shares of the textile maker’s stock worth $38,000 after acquiring an additional 419 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Albany International by 244.8% in the fourth quarter. Bessemer Group Inc. now owns 462 shares of the textile maker’s stock worth $45,000 after acquiring an additional 328 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Albany International during the fourth quarter worth about $54,000. Finally, US Asset Management LLC acquired a new position in shares of Albany International during the fourth quarter worth about $85,000. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

Shares of NYSE AIN opened at $92.72 on Friday. The stock has a 50 day moving average price of $92.72 and a 200 day moving average price of $92.22. Albany International Corp. has a 52 week low of $76.97 and a 52 week high of $115.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 4.15 and a current ratio of 4.99. The stock has a market capitalization of $2.89 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 3.97 and a beta of 1.31.

Albany International (NYSE:AIN – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The textile maker reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Albany International had a net margin of 7.68% and a return on equity of 13.21%. The company had revenue of $274.10 million for the quarter, compared to analyst estimates of $261.56 million. During the same period last year, the company posted $1.06 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts predict that Albany International Corp. will post 3.6 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Tuesday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.00 annualized dividend and a yield of 1.08%. Albany International’s dividend payout ratio (DPR) is presently 38.02%.

Wall Street Analyst Weigh In

AIN has been the subject of several recent research reports. Robert W. Baird raised Albany International from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $101.00 to $120.00 in a research report on Friday, July 14th. StockNews.com initiated coverage on Albany International in a research report on Thursday, August 17th. They set a “buy” rating for the company.

Get Our Latest Analysis on Albany International

Insider Activity at Albany International

In other Albany International news, SVP Robert Alan Hansen sold 4,167 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $93.60, for a total value of $390,031.20. Following the sale, the senior vice president now owns 7,337 shares in the company, valued at $686,743.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.76% of the company’s stock.

Albany International Company Profile

(Free Report)

Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, nonwovens, building products, tannery, and textiles.