Joseph M. Gaug Purchases 1,000 Shares of Albany International Corp. (NYSE:AIN) Stock

Albany International Corp. (NYSE:AIN) VP Joseph M. Gaug acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the purchase, the vice president now directly owns 6,811 shares in the company, valued at approximately $485,215.64. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Albany International Stock Up 9.2 %

NYSE:AIN opened at $80.13 on Thursday. Albany International Corp. has a 1-year low of $67.39 and a 1-year high of $99.41. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.28 and a beta of 1.29. 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 business’s fifty day moving average price is $80.26 and its 200 day moving average price is $84.91.

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 business had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. On average, sell-side analysts forecast that Albany International Corp. will post 3.16 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is presently 32.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AIN shares. Truist Financial dropped their price objective on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, TD Cowen reduced their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Albany International presently has a consensus rating of “Hold” and a consensus target price of $88.00.

Institutional Trading of Albany International

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Albany International by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after purchasing an additional 11,052 shares in the last quarter. Earnest Partners LLC increased its holdings in Albany International by 2.1% in the second quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock worth $218,961,000 after buying an additional 53,743 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Albany International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after acquiring an additional 52,909 shares in the last quarter. Victory Capital Management Inc. raised its position in Albany International by 24.0% during the third quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock valued at $75,330,000 after acquiring an additional 163,934 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in Albany International by 3.5% during the second quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock valued at $61,335,000 after acquiring an additional 24,430 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

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.