Albany International Corp. (AIN) Sees Strong Trading Volume

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Albany International Corp. (NYSE:AIN) saw unusually-strong trading volume on Wednesday . Approximately 248,072 shares were traded during trading, an increase of 218% from the previous session’s volume of 77,894 shares.The stock last traded at $43.44 and had previously closed at $43.25.
The company has a market cap of $1.39 billion and a PE ratio of 19.59. The company has a 50-day moving average price of $42.59 and a 200 day moving average price of $39.90.

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Albany International Corp. (NYSE:AIN) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. During the same period in the prior year, the company earned $0.39 earnings per share. The company had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $196.47 million. Analysts forecast that Albany International Corp. will post $1.77 EPS for the current year.
In other news, insider Robert Alan Hansen sold 4,122 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $42.89, for a total transaction of $176,792.58. Following the completion of the transaction, the insider now directly owns 8,063 shares of the company’s stock, valued at approximately $345,822.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 13.38% of the company’s stock.
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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