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

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

Albany International Stock Performance

Shares of AIN stock opened at $81.38 on Friday. The company’s 50-day moving average is $80.02 and its 200 day moving average is $84.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 2.29 and a beta of 1.29. Albany International Corp. has a one year low of $67.39 and a one year high of $99.41.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. The firm had revenue of $298.40 million for the quarter, compared to the consensus estimate of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 EPS. Sell-side analysts expect that Albany International Corp. will post 3.18 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.26 per share. 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 presently 32.50%.

Hedge Funds Weigh In On Albany International

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after purchasing an additional 11,052 shares during the period. Earnest Partners LLC raised its stake in 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 raised its stake in Albany International by 5.1% during 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 period. Victory Capital Management Inc. raised its stake in Albany International by 24.0% during the 3rd quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock worth $75,330,000 after acquiring an additional 163,934 shares during the period. Finally, William Blair Investment Management LLC raised its stake in Albany International by 3.5% during the 2nd quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock worth $61,335,000 after acquiring an additional 24,430 shares during the period. Institutional investors own 97.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AIN shares. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. TD Cowen reduced their target price 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. Finally, Truist Financial reduced their target price on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Albany International has a consensus rating of “Hold” and an average price target 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.