Texas Permanent School Fund recently announced that it has lowered its stake in Albany International Corp. by 6.5% during the fourth quarter of fiscal year 2020. According to SEC documents, the institutional investor held 20,908 shares of the textile maker’s stock after selling off 1,463 shares during Q4. At present, Texas Permanent School Fund owns only 0.07% worth $2,061,000 of Albany International.
In an unrelated event that qualifies as insider trading activity under SEC standards, SVP Robert Alan Hansen sold a total of 1,900 shares in a transaction on Monday last week at an average price of $101.93. The move led to Hansen receiving a total transaction value of $193,667.00 and subsequently reducing his position to 11,504 shares of the company’s stock valued at $1,172,602.72.
As reported by SEC filings made available online for public consumption purposes only last week after a group of reporters managed to extract them from the overcrowded portals accessible to us humble investment analysts, company insiders currently own up to 0.76% of Albany International stock.
Albany International Corp.’s stock opened on Friday at $90.54 with a market cap valued at $2.82 billion and has a price-to-earnings ratio numbering roughly around 29.88: notable for being quite reasonable by industry standards ratified through numerous publications devoted entirely to economic analysis and news reporting such as Barron’s or The Economist.
Furthermore, Albany International Corp.’s assets involve lofty alphabets such as PEG (price-to-earnings-growth ratio) which stands at a commendable 3.21 while beta clocks in impressively high with the number reading out as 1.31 – clear indicators that the market views this stock as volatile yet promising due largely to its relatively fast growth characteristics when compared with other stocks currently traded on the big boards.
In terms of liquidity measures, Albany International corp. has a quick ratio of 3.98 and a current ratio of 4.82, with a debt-to-equity ratio coming in at 0.55 indicating that the company is not heavily leveraged in this latest market reporting period.
The business also posted a fifty-day simple moving average valued at $90.53 and a two hundred-day simple moving average at $98.08; statistics calculated with inputs from historical stock prices provided by one of our trusted partners: Yahoo! Finance.
While Albany International Corp. may have recently suffered a decline in its valuation, certain insiders and executives still view it as worthy investments, to be held onto long-term instead of capitalising on short-term returns. As we extrapolate from these stringently compiled SEC disclosures pertinent to the company’s financial doings – while risks remain unavoidable given that equity markets are perpetually afflicted by volatility based on changing global conditions – one can still say that Albany International remains an attractive option for shrewd investors on the lookout for high-growth textile makers with strong outlooks for future profitability along with decent cutting edge technology backing up their operations, production processes, and bottom lines in general.
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Institutional Investors and Hedge Funds Modify Holdings of Albany International Stock
There has been recent movement of institutional investors and hedge funds modifying their holdings of Albany International, a textile maker’s stock. The State of Alaska Department of Revenue increased its stake in shares by 0.5% in the fourth quarter, now owning 21,655 shares at a worth of $2,134,000 after acquiring an additional 112 shares. Similarly, Park Avenue Securities LLC and Captrust Financial Advisors saw incremental growth in their holdings by 4.4% and 9.6% respectively. In contrast, Vestmark Advisory Solutions Inc. acquired an additional 216 shares to reach a total of 3,438 shares worth $271,000 while Guggenheim Capital LLC bought up another 249 shares increasing its stake by 3.9%.
Truist Financial upgraded Albany International from a “hold” rating to a “buy” rating with an upped price objective from $90 to $105 in April this year. StockNews.com also reported on the company recently assuming coverage and issuing a “buy” rating for it.
Meanwhile senior vice-president Robert Alan Hansen sold off some shares earlier this year following the completion of which he remains directly invested in the company with an estimated valuation over one million US dollars.
Albany International released its earnings for Q1 of fiscal year 2017 on February 13th this year with quarterly revenue reaching nearly $269 million beating the consensus estimate of around $239 million as well as attaining EPS of $0.75 versus forecasted performance at $0.70 per share; net margin recorded was about nine percent while its return on equity stood at nearly fourteen percent.
A quarterly dividend for shareholders was also announced and paid out on April 10th as scheduled constituting returns of one dollar per share annually with an additional yield rate standing at around one percent making it a viable yield source for stockholder investment ventures.