Insider Buying: Albany International Corp. (NYSE:AIN) CFO Acquires 1,000 Shares of Stock

Albany International Corp. (NYSE:AIN) CFO Robert D. Starr bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought 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 owns 2,610 shares of the company’s stock, valued at $220,388.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Albany International Stock Performance

Albany International stock traded up $1.80 during midday trading on Friday, reaching $85.46. 121,776 shares of the company traded hands, compared to its average volume of 146,531. The business has a 50 day moving average of $90.82 and a two-hundred day moving average of $89.61. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 2.85.

Albany International (NYSE:AIN) last released its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share 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 in the prior year, the firm posted $0.91 EPS. Albany International’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, research analysts predict that Albany International Corp. will post 3.93 earnings per share for the current year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.22%. Albany International’s dividend payout ratio is currently 29.21%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Orion Capital Management LLC purchased a new position in shares of Albany International in the third quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new position in shares of Albany International in the fourth quarter valued at approximately $47,000. Whittier Trust Co. lifted its position 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 during the period. Principal Securities Inc. purchased a new stake in shares of Albany International in the fourth quarter valued at $77,000. Finally, Adirondack Trust Co. acquired a new stake in shares of Albany International during the third quarter worth $86,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AIN. Bank of America reaffirmed an “underperform” rating and set a $95.00 price target (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. TD Cowen lowered their target price 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 decreased their target price on Albany International from $121.00 to $104.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Albany International presently has an average rating of “Moderate Buy” and a consensus target price of $103.50.

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.