Albany International Corp. (AIN) Hits New 52-Week High at $42.35
Albany International Corp. (NYSE:AIN) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $42.35 and last traded at $42.06, with a volume of 35,936 shares trading hands. The stock had previously closed at $41.20.
The firm has a market cap of $1.35 billion and a PE ratio of 23.04. The company’s 50-day moving average price is $39.94 and its 200-day moving average price is $37.57.
Albany International Corp. (NYSE:AIN) last released 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. The company earned $172.30 million during the quarter, compared to analysts’ expectations of $178.46 million. During the same period in the previous year, the business posted $0.45 EPS. Equities analysts forecast 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. The ex-dividend date of this dividend was Friday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.61%.
In other Albany International Corp. news, insider Daniel A. Halftermeyer sold 4,000 shares of Albany International Corp. 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of hedge funds have made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of Albany International Corp. by 99.4% in the fourth quarter. First Trust Advisors LP now owns 31,715 shares of the company’s stock worth $1,159,000 after buying an additional 15,812 shares during the period. Nationwide Fund Advisors increased its stake in shares of Albany International Corp. by 0.4% in the fourth quarter. Nationwide Fund Advisors now owns 41,185 shares of the company’s stock worth $1,505,000 after buying an additional 146 shares during the period. WBI Investments Inc. acquired a new stake in shares of Albany International Corp. during the fourth quarter worth about $1,553,000. Rhumbline Advisers increased its stake 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 during the period. Finally, Principal Financial Group Inc. increased its stake 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 during the period.
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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