Robert Alan Hansen Buys 1,050 Shares of Albany International Corp. (NYSE:AIN) Stock

Albany International Corp. (NYSE:AIN) SVP Robert Alan Hansen acquired 1,050 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average cost of $71.26 per share, with a total value of $74,823.00. Following the purchase, the senior vice president now owns 8,387 shares of the company’s stock, valued at $597,657.62. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Albany International Price Performance

Shares of AIN opened at $81.38 on Friday. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $99.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The company has a market capitalization of $2.54 billion, a P/E ratio of 25.43, a P/E/G ratio of 2.29 and a beta of 1.29. The business’s 50-day moving average is $80.02 and its two-hundred day moving average is $84.89.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. During the same period last year, the firm earned $1.02 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Research analysts predict that Albany International Corp. will post 3.18 earnings per share for the current year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s payout ratio is presently 32.50%.

Institutional Trading of Albany International

Several institutional investors have recently made changes to their positions in AIN. BNP Paribas Financial Markets grew its stake in shares of Albany International by 13.7% in the first quarter. BNP Paribas Financial Markets now owns 25,779 shares of the textile maker’s stock worth $2,411,000 after acquiring an additional 3,104 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Albany International by 94.7% during the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Albany International during the first quarter worth $128,000. GSA Capital Partners LLP grew its stake in shares of Albany International by 201.8% during the first quarter. GSA Capital Partners LLP now owns 9,878 shares of the textile maker’s stock worth $924,000 after purchasing an additional 6,605 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in shares of Albany International by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 27,306 shares of the textile maker’s stock worth $2,553,000 after purchasing an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Ratings Changes

AIN has been the subject of several analyst reports. TD Cowen decreased 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. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Truist Financial dropped their target price on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $88.00.

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.