Albany International Corp. (NYSE:AIN) VP Acquires $71,240.00 in Stock

Albany International Corp. (NYSE:AIN - Get Free Report) VP Joseph M. Gaug bought 1,000 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was bought at an average price of $71.24 per share, for a total transaction of $71,240.00. Following the transaction, the vice president now directly owns 6,811 shares of the company's stock, valued at approximately $485,215.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Albany International Trading Up 4.4 %

AIN traded up $3.09 during trading on Tuesday, reaching $73.39. 251,326 shares of the stock traded hands, compared to its average volume of 157,493. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock's 50-day moving average is $80.50 and its 200 day moving average is $84.95. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $99.41. The stock has a market capitalization of $2.29 billion, a PE ratio of 22.93, a P/E/G ratio of 2.28 and a beta of 1.29.

Albany International (NYSE:AIN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.45 by $0.35. The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 EPS. Equities analysts anticipate that Albany International Corp. will post 3.16 earnings per share for the current year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.42%. Albany International's payout ratio is presently 32.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Truist Financial cut 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. TD Cowen reduced their price objective on shares of Albany International from $95.00 to $81.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Finally, StockNews.com raised Albany International from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. One 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $88.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. UniSuper Management Pty Ltd acquired a new position in shares of Albany International during the first quarter valued at about $679,000. Assenagon Asset Management S.A. raised its stake in Albany International by 29.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker's stock worth $8,490,000 after buying an additional 23,018 shares during the period. Sei Investments Co. boosted its holdings in Albany International by 3.7% in the first quarter. Sei Investments Co. now owns 694,792 shares of the textile maker's stock worth $64,970,000 after acquiring an additional 24,720 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Albany International by 0.3% in the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker's stock worth $330,041,000 after acquiring an additional 11,052 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in Albany International by 9.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 28,687 shares of the textile maker's stock valued at $2,677,000 after acquiring an additional 2,367 shares during the period. 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.