Albany International Corp. (NYSE:AIN) VP Joseph M. Gaug Purchases 1,000 Shares

Albany International Corp. (NYSE:AIN) VP Joseph M. Gaug purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the transaction, the vice president now owns 6,811 shares of the company’s stock, valued at approximately $485,215.64. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Albany International Trading Up 9.2 %

Shares of Albany International stock opened at $80.13 on Thursday. The company’s fifty day simple moving average is $80.26 and its 200-day simple moving average is $84.91. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.28 and a beta of 1.29. 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 1 year low of $67.39 and a 1 year high of $99.41.

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

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were paid a $0.26 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.30%. Albany International’s dividend payout ratio is presently 32.50%.

Institutional Investors Weigh In On Albany International

Several institutional investors and hedge funds have recently made changes to their positions in AIN. Victory Capital Management Inc. raised its holdings in shares of Albany International by 5,971.5% in the second quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock valued at $57,755,000 after buying an additional 672,631 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Albany International by 60.5% in 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 purchasing an additional 60,812 shares during the period. Earnest Partners LLC grew its position in shares of Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after purchasing an additional 53,743 shares during the period. Dimensional Fund Advisors LP grew its position in shares of 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 valued at $92,192,000 after purchasing an additional 52,909 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of 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 purchasing an additional 42,740 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen dropped their price target on shares of 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 objective on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com upgraded shares of 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 issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Albany International has an average rating of “Hold” and an average 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.