Albany International Corp. (NYSE:AIN) CEO Buys $99,750.00 in Stock

Albany International Corp. (NYSE:AIN) CEO Gunnar Kleveland purchased 1,400 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the acquisition, the chief executive officer now owns 8,284 shares of the company’s stock, valued at $590,235. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Albany International Stock Performance

Shares of Albany International stock opened at $73.39 on Wednesday. The business has a 50-day moving average price of $80.50 and a two-hundred day moving average price of $84.95. Albany International Corp. has a 1-year low of $67.39 and a 1-year high of $99.41. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.29 billion, a P/E ratio of 22.93, a PEG ratio of 2.28 and a beta of 1.29.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. The firm had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 EPS. As a group, analysts anticipate that Albany International Corp. will post 3.16 EPS for the current year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.42%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is currently 32.50%.

Wall Street Analyst Weigh In

AIN has been the subject of several analyst reports. Truist Financial lowered their target price on Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, November 1st. TD Cowen lowered their price objective on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $88.00.

Hedge Funds Weigh In On Albany International

Several institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. raised its stake in Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after buying an additional 266 shares during the period. GAMMA Investing LLC increased its holdings in shares of Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after acquiring an additional 145 shares in the last quarter. Hilltop National Bank raised its position in shares of Albany International by 14.7% during the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after purchasing an additional 134 shares during the period. SG Americas Securities LLC bought a new position in shares of Albany International in the 1st quarter worth $102,000. Finally, Central Pacific Bank Trust Division acquired a new stake in Albany International in the 1st quarter valued at $128,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

About Albany International

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.