Albany International Corp. (AIN) Sets New 52-Week High at $42.95
Albany International Corp. (NYSE:AIN) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $42.95 and last traded at $42.54, with a volume of 13,954 shares trading hands. The stock had previously closed at $42.73.
The stock’s 50 day moving average is $40.14 and its 200-day moving average is $37.65. The firm has a market capitalization of $1.36 billion and a P/E ratio of 23.31.
Albany International Corp. (NYSE:AIN) last released its quarterly earnings data on Monday, May 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.06. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company earned $172.30 million during the quarter, compared to analyst estimates of $178.46 million. On average, equities research analysts expect that Albany International Corp. will post $1.84 EPS for the current fiscal year.
The firm also recently disclosed 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 annualized dividend and a yield of 1.59%.
In related news, insider Daniel A. Halftermeyer sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $38.57, for a total value of $154,280.00. Following the transaction, the insider now directly owns 59,265 shares of the company’s stock, valued at approximately $2,285,851.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several institutional investors have recently added to or reduced their stakes in the stock. Brown Advisory Inc. boosted its position in Albany International Corp. by 3.5% in the fourth quarter. Brown Advisory Inc. now owns 1,408,195 shares of the company’s stock valued at $51,470,000 after buying an additional 47,042 shares during the last quarter. WBI Investments Inc. purchased a new position in Albany International Corp. during the fourth quarter valued at $1,553,000. New York State Common Retirement Fund raised its stake in 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 valued at $9,895,000 after buying an additional 26,063 shares during the period. 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 period. 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 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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