Insider Buying: Albany International Corp. (NYSE:AIN) SVP Buys $74,823.00 in Stock

Albany International Corp. (NYSE:AIN) SVP Robert Alan Hansen purchased 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average price of $71.26 per share, for a total transaction of $74,823.00. Following the purchase, the senior vice president now directly owns 8,387 shares in the company, valued at $597,657.62. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Albany International Price Performance

NYSE:AIN opened at $81.38 on Friday. 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 business’s 50-day simple moving average is $80.02 and its two-hundred day simple moving average is $84.89. The stock has a market cap of $2.54 billion, a PE ratio of 25.43, a P/E/G ratio of 2.29 and a beta of 1.29. Albany International Corp. has a 52 week low of $67.39 and a 52 week high of $99.41.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. The business had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.02 earnings per share. As a group, analysts forecast that Albany International Corp. will post 3.18 EPS for the current fiscal year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.28%. Albany International’s payout ratio is 32.50%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. TD Cowen cut their target price on Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Truist Financial decreased their target price on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Albany International currently has an average rating of “Hold” and a consensus target price of $88.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC grew its position in shares of Albany International by 5.4% during the third quarter. Natixis Advisors LLC now owns 239,697 shares of the textile maker’s stock valued at $21,297,000 after purchasing an additional 12,262 shares in the last quarter. KBC Group NV grew its position in Albany International by 28.9% in the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after acquiring an additional 237 shares in the last quarter. MQS Management LLC purchased a new position in Albany International in the third quarter worth about $800,000. Victory Capital Management Inc. grew its position in Albany International by 24.0% in the third quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock worth $75,330,000 after acquiring an additional 163,934 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in Albany International in the third quarter worth about $245,000. 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.