Insider Buying: Albany International Corp. (NYSE:AIN) CEO Buys 1,250 Shares of Stock

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

Albany International Stock Up 1.8 %

Shares of Albany International stock traded up $1.56 during trading on Monday, reaching $86.23. 12,590 shares of the company traded hands, compared to its average volume of 146,967. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 3.20. The firm has a market capitalization of $2.69 billion, a PE ratio of 23.78, a P/E/G ratio of 2.21 and a beta of 1.28. The company has a 50 day moving average price of $90.68 and a 200-day moving average price of $89.66. Albany International Corp. has a 1-year low of $78.20 and a 1-year high of $99.41.

Albany International (NYSE:AIN) last released its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 earnings per share 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 firm had revenue of $313.33 million for the quarter, compared to the consensus estimate of $313.41 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. As a group, equities research analysts expect that Albany International Corp. will post 3.89 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Albany International

Several institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp grew its holdings in shares of Albany International by 1.3% in the first 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 boosted its holdings in Albany International by 201.8% in the 1st quarter. GSA Capital Partners LLP now owns 9,878 shares of the textile maker’s stock valued at $924,000 after purchasing an additional 6,605 shares during the period. Central Pacific Bank Trust Division bought a new position in Albany International in the 1st quarter worth about $128,000. Whittier Trust Co. grew its stake in Albany International by 94.7% in the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after buying an additional 266 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Albany International by 13.7% during the first quarter. BNP Paribas Financial Markets now owns 25,779 shares of the textile maker’s stock valued at $2,411,000 after purchasing an additional 3,104 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

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.