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

Albany International Corp. (NYSE:AIN) CEO Gunnar Kleveland bought 1,400 shares of Albany International stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average price of $71.25 per share, with a total value of $99,750.00. Following the purchase, the chief executive officer now directly owns 8,284 shares in the company, valued at approximately $590,235. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Albany International Stock Up 1.6 %

AIN opened at $81.38 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.29 and a beta of 1.29. Albany International Corp. has a one year low of $67.39 and a one year high of $99.41. The business’s fifty day moving average is $80.02 and its two-hundred day moving average is $84.89.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.35. The business had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 EPS. Analysts anticipate that Albany International Corp. will post 3.18 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s payout ratio is 32.50%.

Institutional Investors Weigh In On Albany International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in Albany International by 13.7% in the first quarter. BNP Paribas Financial Markets now owns 25,779 shares of the textile maker’s stock valued at $2,411,000 after purchasing an additional 3,104 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 266 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Albany International during the 1st quarter worth about $128,000. GSA Capital Partners LLP boosted its position in shares of Albany International by 201.8% in the first quarter. GSA Capital Partners LLP now owns 9,878 shares of the textile maker’s stock worth $924,000 after acquiring an additional 6,605 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in Albany International by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 27,306 shares of the textile maker’s stock valued at $2,553,000 after purchasing an additional 358 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.