Gunnar Kleveland Acquires 1,250 Shares of Albany International Corp. (NYSE:AIN) Stock

Albany International Corp. (NYSE:AIN) CEO Gunnar Kleveland purchased 1,250 shares of Albany International stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $84.68 per share, with a total value of $105,850.00. Following the completion of the acquisition, the chief executive officer now owns 6,884 shares in the company, valued at $582,937.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Albany International Trading Up 1.1 %

Shares of Albany International stock opened at $87.60 on Wednesday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 24.61, a PEG 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’s fifty day simple moving average is $90.43 and its 200-day simple moving average is $89.70. The company has a current ratio of 3.99, a quick ratio of 3.20 and a debt-to-equity ratio of 0.45.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The company had revenue of $313.33 million for the quarter, compared to the consensus estimate of $313.41 million. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue was up 16.4% compared to the same quarter last year. As a group, sell-side analysts expect that Albany International Corp. will post 3.89 EPS for the current year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given 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 1.19%. Albany International’s dividend payout ratio is currently 29.21%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial decreased their target price on shares of Albany International from $121.00 to $104.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Bank of America reiterated an “underperform” rating and set a $95.00 price target (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. JPMorgan Chase & Co. decreased their target price on Albany International from $98.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, TD Cowen decreased their price objective on shares of Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Institutional Trading of Albany International

A number of institutional investors and hedge funds have recently modified their holdings of AIN. Sei Investments Co. lifted its position 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 purchasing an additional 24,720 shares during the period. SG Americas Securities LLC bought a new position in shares of Albany International during the 1st quarter worth about $102,000. Texas Permanent School Fund Corp boosted its position in shares of Albany International by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 27,306 shares of the textile maker’s stock valued at $2,553,000 after acquiring an additional 358 shares in the last quarter. GSA Capital Partners LLP increased its stake in Albany International by 201.8% in the first quarter. GSA Capital Partners LLP now owns 9,878 shares of the textile maker’s stock valued at $924,000 after acquiring an additional 6,605 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in Albany International in the first quarter worth about $128,000. 97.37% of the stock is currently owned by institutional investors.

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.