Albany International Corp. (NYSE:AIN) Insider Daniel A. Halftermeyer Sells 3,100 Shares

Albany International Corp. (NYSE:AIN) insider Daniel A. Halftermeyer sold 3,100 shares of Albany International stock in a transaction on Monday, June 7th. The stock was sold at an average price of $87.45, for a total value of $271,095.00. Following the completion of the transaction, the insider now owns 81,655 shares in the company, valued at $7,140,729.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of Albany International stock opened at $87.90 on Friday. The firm has a market capitalization of $2.84 billion, a PE ratio of 24.35, a PEG ratio of 13.96 and a beta of 1.46. The stock has a fifty day simple moving average of $86.99. The company has a current ratio of 4.22, a quick ratio of 3.52 and a debt-to-equity ratio of 0.46. Albany International Corp. has a 12 month low of $46.31 and a 12 month high of $92.42.

Albany International (NYSE:AIN) last issued its earnings results on Sunday, April 25th. The textile maker reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.22. The business had revenue of $222.36 million during the quarter, compared to analysts’ expectations of $210.80 million. Albany International had a return on equity of 15.90% and a net margin of 13.19%. As a group, research analysts anticipate that Albany International Corp. will post 2.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 8th. Investors of record on Monday, June 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 4th. This represents a $0.80 dividend on an annualized basis and a yield of 0.91%. Albany International’s payout ratio is 21.51%.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Albany International from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday. Bank of America reaffirmed a “neutral” rating and issued a $90.00 target price on shares of Albany International in a research report on Monday, March 15th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $81.50.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIN. Charter Oak Capital Management LLC acquired a new stake in Albany International during the fourth quarter valued at $41,000. Veriti Management LLC acquired a new stake in Albany International during the fourth quarter valued at $66,000. Captrust Financial Advisors boosted its position in Albany International by 29.8% during the first quarter. Captrust Financial Advisors now owns 892 shares of the textile maker’s stock valued at $75,000 after purchasing an additional 205 shares during the last quarter. The PNC Financial Services Group Inc. boosted its position in Albany International by 15.6% during the first quarter. The PNC Financial Services Group Inc. now owns 1,916 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 258 shares during the last quarter. Finally, First Bank & Trust boosted its position in Albany International by 43.0% during the first quarter. First Bank & Trust now owns 2,142 shares of the textile maker’s stock valued at $179,000 after purchasing an additional 644 shares during the last quarter. 93.28% of the stock is owned by hedge funds and other institutional investors.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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 manufacturing papers, paperboards, tissues, and towels.

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