Albany International Corp. (NYSE:AIN) CEO Purchases $105,850.00 in Stock

Albany International Corp. (NYSE:AIN) CEO Gunnar Kleveland bought 1,250 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $84.68 per share, for a total transaction of $105,850.00. Following the transaction, the chief executive officer now owns 6,884 shares in the company, valued at approximately $582,937.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Albany International Stock Up 0.4 %

Shares of AIN opened at $87.89 on Thursday. Albany International Corp. has a 52 week low of $78.20 and a 52 week high of $99.41. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.21 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.20 and a current ratio of 3.99. The stock has a fifty day moving average of $90.32 and a 200-day moving average of $89.69.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $313.33 million during the quarter, compared to analyst estimates of $313.41 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. Albany International’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. As a group, sell-side analysts anticipate that Albany International Corp. will post 3.89 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.18%. The ex-dividend date was Thursday, March 14th. Albany International’s dividend payout ratio is currently 29.21%.

Analyst Ratings Changes

Several equities analysts recently weighed in on AIN shares. Bank of America reissued an “underperform” rating and issued a $95.00 target price (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. TD Cowen decreased their target price on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Truist Financial dropped their price target on Albany International from $121.00 to $104.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Albany International currently has an average rating of “Moderate Buy” and an average target price of $102.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Orion Capital Management LLC acquired a new stake in Albany International during the 3rd quarter worth about $29,000. GAMMA Investing LLC acquired a new stake in Albany International during the 4th quarter worth about $47,000. Whittier Trust Co. grew its holdings in Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after acquiring an additional 266 shares during the period. Principal Securities Inc. acquired a new stake in shares of Albany International in the 4th quarter valued at about $77,000. Finally, Adirondack Trust Co. acquired a new stake in shares of Albany International in the 3rd quarter valued at about $86,000. 97.37% of the stock is owned by institutional investors.

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.