Albany International Corp. (NYSE:AIN) CFO Robert D. Starr Purchases 1,000 Shares of Stock

Albany International Corp. (NYSE:AIN) CFO Robert D. Starr purchased 1,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $84.44 per share, for a total transaction of $84,440.00. Following the completion of the purchase, the chief financial officer now directly owns 2,610 shares of the company’s stock, valued at $220,388.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Albany International Stock Up 1.2 %

Shares of NYSE:AIN opened at $84.65 on Friday. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.11 and a beta of 1.28. Albany International Corp. has a 12-month low of $78.20 and a 12-month high of $99.41. The business has a 50-day moving average price of $90.68 and a 200 day moving average price of $89.60. The company has a current ratio of 3.99, a quick ratio of 2.85 and a debt-to-equity ratio of 0.45.

Albany International (NYSE:AIN) last released its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The business had revenue of $313.33 million for the quarter, compared to the consensus estimate of $313.41 million. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue was up 16.4% on a year-over-year basis. Sell-side analysts expect that Albany International Corp. will post 3.93 EPS for the current year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s dividend payout ratio (DPR) is currently 29.21%.

Institutional Investors Weigh In On Albany International

Several large investors have recently added to or reduced their stakes in AIN. Orion Capital Management LLC purchased a new stake in shares of Albany International during the third quarter worth $29,000. GAMMA Investing LLC purchased a new position in Albany International in the fourth quarter valued at approximately $47,000. Whittier Trust Co. raised its holdings in Albany International by 94.7% during the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Albany International during the 4th quarter worth approximately $77,000. Finally, Adirondack Trust Co. purchased a new position in shares of Albany International in the 3rd quarter valued at $86,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AIN. JPMorgan Chase & Co. lowered their target price 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. Bank of America reaffirmed an “underperform” rating and issued a $95.00 price target (down previously from $105.00) on shares of Albany International in a report on Thursday, March 28th. TD Cowen lowered their price objective on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Truist Financial reduced their price target on Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a report on Wednesday. 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 company’s stock. According to data from MarketBeat, Albany International presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

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.