Robert Alan Hansen Acquires 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 shares were bought at an average cost of $71.26 per share, with a total value of $74,823.00. Following the completion of the acquisition, the senior vice president now directly owns 8,387 shares in the company, valued at approximately $597,657.62. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Albany International Stock Performance

Shares of Albany International stock opened at $73.39 on Wednesday. The business’s fifty day simple moving average is $80.50 and its 200 day simple moving average is $84.95. The company has a current ratio of 3.68, a quick ratio of 2.94 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 firm has a market capitalization of $2.29 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 2.28 and a beta of 1.29.

Albany International (NYSE:AIN) last released its earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. The company had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.02 EPS. As a group, analysts anticipate that Albany International Corp. will post 3.16 EPS for the current year.

Albany International Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio is currently 32.50%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AIN. TD Cowen cut 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. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Truist Financial lowered their target price on shares of Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $88.00.

Institutional Investors Weigh In On Albany International

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in Albany International by 5,971.5% during the second quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock valued at $57,755,000 after purchasing an additional 672,631 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Albany International by 60.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock valued at $14,335,000 after buying an additional 60,812 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Albany International by 2.1% during the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock worth $218,961,000 after acquiring an additional 53,743 shares during the period. Dimensional Fund Advisors LP increased its holdings in Albany International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after acquiring an additional 52,909 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Albany International by 176.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock valued at $5,650,000 after acquiring an additional 42,740 shares during the period. 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.