Albany International Corp. (NYSE:AIN) insider Robert Alan Hansen sold 200 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $83.58, for a total value of $16,716.00. Following the completion of the sale, the insider now directly owns 13,404 shares in the company, valued at approximately $1,120,306.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of AIN stock opened at $81.30 on Thursday. The firm has a fifty day simple moving average of $81.49. The firm has a market cap of $2.65 billion, a P/E ratio of 31.63 and a beta of 1.70. Albany International Corp. has a fifty-two week low of $58.06 and a fifty-two week high of $86.96. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.66 and a current ratio of 3.19.
Albany International (NYSE:AIN) last issued its earnings results on Tuesday, July 30th. The textile maker reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.24. Albany International had a return on equity of 17.42% and a net margin of 10.59%. The firm had revenue of $273.95 million for the quarter, compared to the consensus estimate of $267.75 million. Analysts expect that Albany International Corp. will post 3.4 EPS for the current fiscal year.
A number of equities research analysts have weighed in on AIN shares. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Noble Financial reaffirmed a “hold” rating on shares of Albany International in a report on Sunday, August 4th. Alembic Global Advisors started coverage on Albany International in a report on Friday, June 28th. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, Zacks Investment Research raised Albany International from a “hold” rating to a “strong-buy” rating and set a $98.00 target price on the stock in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $89.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pearl River Capital LLC acquired a new stake in shares of Albany International during the 2nd quarter valued at $29,000. Huntington National Bank acquired a new stake in shares of Albany International during the 2nd quarter valued at $34,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Albany International during the 2nd quarter worth about $39,000. Parallel Advisors LLC acquired a new position in Albany International during the 1st quarter worth about $50,000. Finally, Quadrant Capital Group LLC lifted its holdings in Albany International by 253.2% during the 1st quarter. Quadrant Capital Group LLC now owns 989 shares of the textile maker’s stock worth $67,000 after buying an additional 709 shares during the period. 89.52% of the stock is currently owned by institutional investors.
Albany International Company Profile
Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.
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