Albany International Corp. (NYSE:AIN - Get Free Report) CFO Robert D. Starr bought 1,000 shares of the firm's stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $84.44 per share, with a total value of $84,440.00. Following the purchase, the chief financial officer now directly owns 2,610 shares in the company, valued at $220,388.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Albany International Price Performance
Shares of AIN stock opened at $84.65 on Friday. The company has a market capitalization of $2.64 billion, a P/E ratio of 23.78, a P/E/G ratio of 2.11 and a beta of 1.28. Albany International Corp. has a 12 month low of $78.20 and a 12 month high of $99.41. The stock has a 50 day moving average of $90.68 and a two-hundred day moving average of $89.60. The company has a current ratio of 3.99, a quick ratio of 2.85 and a debt-to-equity ratio of 0.45.
Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. The company had revenue of $313.33 million during the quarter, compared to analysts' expectations of $313.41 million. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The business's revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. As a group, equities analysts expect that Albany International Corp. will post 3.93 EPS for the current year.
Albany International Dividend Announcement
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The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International's payout ratio is 29.21%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of AIN. Earnest Partners LLC increased its holdings in Albany International by 2.0% during the 3rd quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker's stock valued at $201,512,000 after purchasing an additional 45,158 shares in the last quarter. Swiss National Bank raised its holdings in shares of Albany International by 1.0% in the third quarter. Swiss National Bank now owns 68,600 shares of the textile maker's stock valued at $5,919,000 after buying an additional 700 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Albany International by 12.7% in the third quarter. Sei Investments Co. now owns 488,258 shares of the textile maker's stock valued at $42,127,000 after buying an additional 55,021 shares during the last quarter. Wellington Management Group LLP lifted its position in Albany International by 12.1% during the 3rd quarter. Wellington Management Group LLP now owns 468,190 shares of the textile maker's stock worth $40,395,000 after buying an additional 50,653 shares in the last quarter. Finally, Stone Run Capital LLC bought a new stake in Albany International during the 3rd quarter worth about $699,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
AIN has been the topic of several research reports. Truist Financial dropped their target price on Albany International from $121.00 to $104.00 and set a "buy" rating on the stock in a research report on Wednesday. TD Cowen reduced their target price on shares of Albany International from $106.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Albany International from $98.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Bank of America restated an "underperform" rating and set a $95.00 price target (down previously from $105.00) on shares of Albany International in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $102.00.
Read Our Latest Stock Analysis on AIN
Albany International Company Profile
(
Get Free Report)
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.
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