Albany International Corp. (AIN) Sees Unusually-High Trading Volume
Albany International Corp. (NYSE:AIN) shares saw an uptick in trading volume on Friday . 153,811 shares changed hands during mid-day trading, an increase of 59% from the previous session’s volume of 96,663 shares.The stock last traded at $40.88 and had previously closed at $39.21.
The stock has a market cap of $1.31 billion and a PE ratio of 22.35. The stock has a 50 day moving average price of $39.67 and a 200 day moving average price of $37.47.
Albany International Corp. (NYSE:AIN) last announced its earnings results on Monday, May 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by $0.06. During the same period in the previous year, the business posted $0.45 earnings per share. The company earned $172.30 million during the quarter, compared to analysts’ expectations of $178.46 million. On average, equities research analysts predict that Albany International Corp. will post $1.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Tuesday, June 7th were given a $0.17 dividend. The ex-dividend date was Friday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.66%.
In related news, insider Daniel A. Halftermeyer sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $38.57, for a total value of $154,280.00. Following the completion of the sale, the insider now directly owns 59,265 shares of the company’s stock, valued at approximately $2,285,851.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Other hedge funds recently bought and sold shares of the company. First Trust Advisors LP increased its stake in Albany International Corp. by 99.4% in the fourth quarter. First Trust Advisors LP now owns 31,715 shares of the company’s stock valued at $1,159,000 after buying an additional 15,812 shares in the last quarter. Nationwide Fund Advisors increased its stake in Albany International Corp. by 0.4% in the fourth quarter. Nationwide Fund Advisors now owns 41,185 shares of the company’s stock valued at $1,505,000 after buying an additional 146 shares in the last quarter. WBI Investments Inc. bought a new stake in Albany International Corp. during the fourth quarter valued at approximately $1,553,000. Rhumbline Advisers increased its stake in Albany International Corp. by 1.3% in the fourth quarter. Rhumbline Advisers now owns 53,292 shares of the company’s stock valued at $1,948,000 after buying an additional 700 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Albany International Corp. by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 189,561 shares of the company’s stock valued at $6,928,000 after buying an additional 8,343 shares in the last quarter.
Albany International Corp. is a textiles and materials processing company. The Company operates through two segments: Machine Clothing (MC) and Albany Engineered Composites (AEC). Its MC segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.
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