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

Albany International Corp. (NYSE:AIN) CEO Gunnar Kleveland bought 1,400 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 8,284 shares in the company, valued at $590,235. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Albany International Price Performance

AIN stock traded up $2.95 during mid-day trading on Tuesday, hitting $73.25. The company had a trading volume of 153,292 shares, compared to its average volume of 157,006. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International Corp. has a 12-month low of $67.39 and a 12-month high of $99.41. The company has a 50-day moving average price of $80.87 and a 200 day moving average price of $85.05. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 2.28 and a beta of 1.29.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. The firm 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 business’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 earnings per share. On average, research analysts anticipate that Albany International Corp. will post 3.16 earnings per share for the current year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.42%. 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

Several research analysts recently commented on the stock. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. 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. Finally, TD Cowen lowered their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report 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 issued a buy rating to the stock. Based on data from MarketBeat, Albany International presently has a consensus rating of “Hold” and an average target price of $88.00.

Institutional Trading of Albany International

A number of hedge funds have recently bought and sold shares of AIN. Whittier Trust Co. raised its stake in Albany International by 94.7% in the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after acquiring an additional 266 shares during the last quarter. GAMMA Investing LLC raised 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 worth $57,000 after purchasing an additional 145 shares during the last quarter. Hilltop National Bank lifted its position in Albany International by 14.7% during the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after purchasing an additional 134 shares during the period. SG Americas Securities LLC acquired a new stake in Albany International during the 1st quarter worth about $102,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Albany International in the first quarter worth about $128,000. Hedge funds and other institutional investors 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.