Albany International Corp. (AIN) Hits New 1-Year High at $42.35
Shares of Albany International Corp. (NYSE:AIN) hit a new 52-week high on Tuesday . The stock traded as high as $42.35 and last traded at $42.06, with a volume of 35,936 shares traded. The stock had previously closed at $41.20.
The firm has a 50 day moving average of $39.74 and a 200 day moving average of $37.50. The stock has a market cap of $1.34 billion and a P/E ratio of 22.95.
Albany International Corp. (NYSE:AIN) last posted its quarterly earnings data on Monday, May 2nd. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.06. During the same period in the prior year, the company earned $0.45 earnings per share. The firm earned $172.30 million during the quarter, compared to the consensus estimate of $178.46 million. On average, equities research analysts expect that Albany International Corp. will post $1.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Tuesday, June 7th were given a dividend of $0.17 per share. The ex-dividend date was Friday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.65%.
In other 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 transaction of $154,280.00. Following the completion of the transaction, the insider now directly owns 59,265 shares of the company’s stock, valued at $2,285,851.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Other hedge funds recently added to or reduced their stakes in the company. First Trust Advisors LP raised 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 during the last quarter. Nationwide Fund Advisors raised 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 during the last quarter. WBI Investments Inc. bought a new stake in Albany International Corp. during the fourth quarter valued at about $1,553,000. Rhumbline Advisers raised 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 during the last quarter. Finally, Principal Financial Group Inc. raised 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 during 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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