Albany International Corp. (AIN) Sees Unusually-High Trading Volume
Albany International Corp. (NYSE:AIN) shares saw unusually-strong trading volume on Friday . Approximately 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 company has a market capitalization of $1.31 billion and a price-to-earnings ratio of 22.35. The stock’s 50 day moving average price is $39.67 and its 200-day moving average price is $37.47.
Albany International Corp. (NYSE:AIN) last issued its earnings results on Monday, May 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.06. During the same quarter last year, the firm earned $0.45 EPS. The company earned $172.30 million during the quarter, compared to analyst estimates of $178.46 million. Equities research analysts expect that Albany International Corp. will post $1.85 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Tuesday, June 7th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Friday, June 3rd.
In other news, insider Daniel A. Halftermeyer sold 4,000 shares of Albany International Corp. stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $38.57, for a total transaction of $154,280.00. Following the transaction, the insider now owns 59,265 shares in the company, valued at $2,285,851.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Several hedge funds and institutional investors have modified their holdings of the stock. Brown Advisory Inc. increased its position in shares of Albany International Corp. by 3.5% in the fourth quarter. Brown Advisory Inc. now owns 1,408,195 shares of the company’s stock worth $51,470,000 after buying an additional 47,042 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Albany International Corp. by 10.7% in the fourth quarter. New York State Common Retirement Fund now owns 270,717 shares of the company’s stock worth $9,895,000 after buying an additional 26,063 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Albany International Corp. by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 189,561 shares of the company’s stock worth $6,928,000 after buying an additional 8,343 shares in the last quarter. Rhumbline Advisers increased its position in shares of Albany International Corp. by 1.3% in the fourth quarter. Rhumbline Advisers now owns 53,292 shares of the company’s stock worth $1,948,000 after buying an additional 700 shares in the last quarter. Finally, WBI Investments Inc. acquired a new position in shares of Albany International Corp. during the fourth quarter worth $1,553,000.
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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