Christine L. Standish Sells 1,616,000 Shares of Albany International Corp. (NYSE:AIN) Stock

Albany International Corp. (NYSE:AIN) Director Christine L. Standish sold 1,616,000 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $64.67, for a total transaction of $104,506,720.00. Following the sale, the director now owns 6,595 shares of the company’s stock, valued at approximately $426,498.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of NYSE AIN traded up $2.23 during mid-day trading on Friday, hitting $82.91. The company’s stock had a trading volume of 428,506 shares, compared to its average volume of 257,911. The stock has a market capitalization of $2.61 billion, a PE ratio of 32.26 and a beta of 1.64. The company has a current ratio of 2.99, a quick ratio of 2.49 and a debt-to-equity ratio of 0.78. Albany International Corp. has a one year low of $58.06 and a one year high of $83.43. The company has a fifty day simple moving average of $75.06.

Albany International (NYSE:AIN) last released its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.14. Albany International had a net margin of 10.41% and a return on equity of 16.39%. The business had revenue of $251.37 million for the quarter, compared to analyst estimates of $253.75 million. On average, equities research analysts anticipate that Albany International Corp. will post 3.38 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 7th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, June 6th. Albany International’s payout ratio is 28.02%.

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Albany International during the 4th quarter worth approximately $16,647,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Albany International by 27.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 583,727 shares of the textile maker’s stock valued at $41,789,000 after purchasing an additional 124,975 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Albany International by 2.9% in the first quarter. BlackRock Inc. now owns 4,243,911 shares of the textile maker’s stock valued at $303,823,000 after purchasing an additional 119,209 shares during the last quarter. Rosenblum Silverman Sutton S F Inc. CA acquired a new stake in shares of Albany International in the first quarter valued at approximately $4,993,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Albany International by 73.4% in the first quarter. Assenagon Asset Management S.A. now owns 139,706 shares of the textile maker’s stock valued at $10,002,000 after purchasing an additional 59,156 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Albany International from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Friday, May 3rd. Alembic Global Advisors assumed coverage on shares of Albany International in a research report on Friday. They issued a “neutral” rating and a $90.00 price objective for the company. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $86.75.

Albany International Company Profile

Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.

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