Albany International Corp. (NYSE:AIN) CEO Gunnar Kleveland Purchases 1,400 Shares

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

Albany International Stock Performance

Shares of AIN stock traded up $2.95 during trading hours on Tuesday, reaching $73.25. 153,292 shares of the company’s stock were exchanged, compared to its average volume of 157,006. The company’s 50 day moving average is $80.87 and its two-hundred day moving average is $85.05. The company has a market cap of $2.29 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 2.28 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $99.41.

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. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. During the same quarter in the previous year, the company posted $1.02 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Equities research analysts anticipate that Albany International Corp. will post 3.16 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.42%. Albany International’s payout ratio is 32.50%.

Wall Street Analyst Weigh In

AIN has been the topic of a number of recent analyst reports. TD Cowen decreased their target price on Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Truist Financial lowered their price target on shares of Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.00.

Institutional Trading of Albany International

Several large investors have recently added to or reduced their stakes in AIN. Vanguard Group Inc. grew its stake in shares of Albany International by 0.3% in the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after buying an additional 11,052 shares in the last quarter. Earnest Partners LLC grew its position in shares of Albany International by 2.1% during 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Albany International by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after buying an additional 52,909 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Albany International by 3.5% during the 2nd 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 during the last quarter. Finally, Sei Investments Co. increased its position in shares of Albany International by 2.0% in the 2nd quarter. Sei Investments Co. now owns 708,373 shares of the textile maker’s stock worth $59,822,000 after purchasing an additional 13,581 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

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.