Insider Buying: Albany International Corp. (NYSE:AIN) CFO Acquires $84,440.00 in Stock

Albany International Corp. (NYSE:AIN) CFO Robert D. Starr acquired 1,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $84.44 per share, with a total value of $84,440.00. Following the completion of the transaction, the chief financial officer now owns 2,610 shares of the company’s stock, valued at approximately $220,388.40. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Albany International Stock Performance

NYSE AIN opened at $84.67 on Monday. The company has a fifty day moving average of $90.68 and a two-hundred day moving average of $89.66. The company has a market capitalization of $2.64 billion, a PE ratio of 23.78, a P/E/G ratio of 2.21 and a beta of 1.28. Albany International Corp. has a 1 year low of $78.20 and a 1 year high of $99.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 2.85.

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, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $313.33 million during the quarter, compared to analysts’ expectations of $313.41 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The business’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. As a group, analysts expect that Albany International Corp. will post 3.89 earnings per share for the current year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.23%. Albany International’s payout ratio is 29.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AIN shares. TD Cowen dropped their price objective on shares of 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 target price on Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Bank of America reaffirmed an “underperform” rating and set a $95.00 price target (down from $105.00) on shares of Albany International in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. dropped 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. 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’s stock. According to MarketBeat, Albany International has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Institutional Trading of Albany International

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Albany International by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,518,426 shares of the textile maker’s stock valued at $345,580,000 after purchasing an additional 38,446 shares during the period. Earnest Partners LLC raised its stake in Albany International by 2.0% during the 3rd quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock valued at $201,512,000 after acquiring an additional 45,158 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Albany International by 0.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 717,724 shares of the textile maker’s stock valued at $61,925,000 after acquiring an additional 5,374 shares during the last quarter. Sei Investments Co. lifted its position in Albany International by 37.2% during the 4th quarter. Sei Investments Co. now owns 670,072 shares of the textile maker’s stock worth $65,814,000 after acquiring an additional 181,814 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of Albany International by 6.5% in the 4th quarter. Clearbridge Investments LLC now owns 598,038 shares of the textile maker’s stock valued at $58,739,000 after purchasing an additional 36,254 shares during the last quarter. 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.