Gunnar Kleveland Buys 1,400 Shares of Albany International Corp. (NYSE:AIN) Stock

Albany International Corp. (NYSE:AIN) CEO Gunnar Kleveland purchased 1,400 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $71.25 per share, with a total value of $99,750.00. Following the completion of the purchase, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at $590,235. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Albany International Price Performance

Shares of AIN stock opened at $81.38 on Friday. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $99.41. The company has a market capitalization of $2.54 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 2.29 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. The firm has a fifty day simple moving average of $80.02 and a 200-day simple moving average of $84.89.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating 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 company had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same period in the prior year, the company posted $1.02 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts anticipate that Albany International Corp. will post 3.18 earnings per share for the current fiscal year.

Albany International Announces Dividend

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

Institutional Trading of Albany International

A number of hedge funds have recently made changes to their positions in AIN. BNP Paribas Financial Markets boosted its stake in Albany International by 13.7% during the 1st quarter. BNP Paribas Financial Markets now owns 25,779 shares of the textile maker’s stock valued at $2,411,000 after acquiring an additional 3,104 shares during the last quarter. Whittier Trust Co. lifted its position 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 during the last quarter. Central Pacific Bank Trust Division acquired a new position in Albany International in the first quarter worth about $128,000. GSA Capital Partners LLP increased its holdings in Albany International by 201.8% in the first quarter. GSA Capital Partners LLP now owns 9,878 shares of the textile maker’s stock valued at $924,000 after buying an additional 6,605 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in 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 valued at $2,553,000 after buying an additional 358 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. TD Cowen dropped their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Truist Financial reduced their price objective on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Albany International has a consensus 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.