Insider Buying: Albany International (NYSE:AIN) CEO Purchases $96,692.00 in Stock

Albany International Corporation (NYSE:AIN) CEO Gunnar Kleveland bought 2,300 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were acquired at an average cost of $42.04 per share, with a total value of $96,692.00. Following the purchase, the chief executive officer directly owned 19,895 shares of the company’s stock, valued at approximately $836,385.80. This represents a 13.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Albany International Stock Performance

Shares of AIN opened at $44.31 on Friday. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.27 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.36 and a beta of 1.39. The business’s 50 day moving average price is $53.94 and its 200-day moving average price is $62.02. Albany International Corporation has a 52 week low of $41.15 and a 52 week high of $88.13.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, May 25th. The textile maker reported $0.43 earnings per share (EPS) for the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%.The business had revenue of $239.92 million during the quarter. Equities research analysts anticipate that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Albany International in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Baird R W downgraded shares of Albany International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Zacks Research cut shares of Albany International from a “hold” rating to a “strong sell” rating in a report on Tuesday. Finally, Robert W. Baird downgraded shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target for the company. in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $64.25.

Institutional Trading of Albany International

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its holdings in shares of Albany International by 0.7% during the third quarter. American Century Companies Inc. now owns 1,709,230 shares of the textile maker’s stock valued at $91,102,000 after purchasing an additional 11,265 shares during the last quarter. Bank of America Corp DE grew its position in Albany International by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 1,457,609 shares of the textile maker’s stock worth $102,222,000 after purchasing an additional 25,283 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Albany International by 1.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 961,513 shares of the textile maker’s stock valued at $66,383,000 after buying an additional 13,251 shares during the last quarter. William Blair Investment Management LLC raised its stake in Albany International by 24.8% during the 3rd quarter. William Blair Investment Management LLC now owns 876,455 shares of the textile maker’s stock valued at $46,715,000 after buying an additional 174,023 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Albany International by 0.7% during the 3rd quarter. Sei Investments Co. now owns 802,840 shares of the textile maker’s stock valued at $42,791,000 after buying an additional 5,426 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.