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

Albany International Corp. (NYSE:AIN) CFO Robert D. Starr bought 1,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $84.44 per share, for a total transaction of $84,440.00. Following the purchase, the chief financial officer now owns 2,610 shares of the company’s stock, valued at approximately $220,388.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Albany International Trading Up 1.2 %

Shares of AIN opened at $84.67 on Friday. Albany International Corp. has a 52-week low of $78.20 and a 52-week high of $99.41. The business’s fifty day moving average is $90.68 and its 200-day moving average is $89.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.85 and a current ratio of 3.99. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.18 and a beta of 1.28.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The company had revenue of $313.33 million for the quarter, compared to analyst estimates of $313.41 million. During the same quarter last year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts anticipate that Albany International Corp. will post 3.89 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 1.23%. Albany International’s payout ratio is 29.21%.

Hedge Funds Weigh In On Albany International

Hedge funds and other institutional investors have recently modified their holdings of the business. Orion Capital Management LLC bought a new position in shares of Albany International in the 3rd quarter valued at $29,000. GAMMA Investing LLC acquired a new stake in shares of Albany International during the 4th quarter valued at $47,000. Whittier Trust Co. boosted its holdings in shares of Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 266 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Albany International during the 4th quarter valued at $77,000. Finally, Adirondack Trust Co. acquired a new stake in shares of Albany International during the 3rd quarter valued at $86,000. Institutional investors own 97.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AIN shares. Bank of America reiterated an “underperform” rating and set a $95.00 target price (down previously from $105.00) on shares of Albany International in a research note 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. Truist Financial lowered their price objective on Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently 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.