Noteworthy Price Action: Can Albany International Corp.’s Tomorrow be Different? The Stock Just Broke Its High

Noteworthy Price Action: Can Albany International Corp.'s Tomorrow be Different? The Stock Just Broke Its High

The stock of Albany International Corp. (NYSE:AIN) hit a new 52-week high and has $59.63 target or 34.00% above today’s $44.50 share price. The 8 months bullish chart indicates low risk for the $1.48B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $59.63 price target is reached, the company will be worth $503.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 62,619 shares traded hands. Albany International Corp. (NYSE:AIN) has risen 10.85% since April 11, 2016 and is uptrending. It has outperformed by 4.71% the S&P500.

According to Zacks Investment Research, “ALBANY INTERNATIONAL CORP. designs, manufactures and markets paper machine clothing for each section of the paper machine. It is the largest producer of paper machine clothing in the world. Paper machine clothing consists of large continuous belts of custom designed and custom manufactured, engineered fabrics that are installed on paper machines and carry the paper stock through each stage of the paper production process. Paper machine clothing is a consumable product of technologically sophisticated design that is made with synthetic monofilament and fiber materials.”

Insitutional Activity: The institutional sentiment decreased to 0.98 in Q2 2016. Its down 1.21, from 2.19 in 2016Q1. The ratio dived, as 18 funds sold all Albany International Corp. shares owned while 44 reduced positions. 11 funds bought stakes while 50 increased positions. They now own 26.64 million shares or 2.78% less from 27.40 million shares in 2016Q1.
Ameriprise Finance Incorporated has invested 0.01% of its portfolio in Albany International Corp. (NYSE:AIN). Axiom Ltd Limited Liability Company De last reported 48,154 shares in the company. Eagle Boston Inv Management Inc, a Massachusetts-based fund reported 111,737 shares. Moreover, Bancshares Of New York Mellon has 0.01% invested in Albany International Corp. (NYSE:AIN) for 410,339 shares. Glenmede Trust Na has invested 0% of its portfolio in Albany International Corp. (NYSE:AIN). Td Asset Mgmt has invested 0% of its portfolio in Albany International Corp. (NYSE:AIN). Public Employees Retirement Association Of Colorado holds 0% of its portfolio in Albany International Corp. (NYSE:AIN) for 8,762 shares. Suntrust Banks holds 0% of its portfolio in Albany International Corp. (NYSE:AIN) for 7,871 shares. Sei Investments owns 26,280 shares or 0.01% of their US portfolio. Adams Diversified Equity Fund Inc last reported 10,300 shares in the company. Prudential accumulated 0% or 70,313 shares. Aqr Capital Mgmt Ltd Company accumulated 0% or 15,350 shares. Texas Permanent School Fund holds 0.01% of its portfolio in Albany International Corp. (NYSE:AIN) for 22,021 shares. Tiaa Cref Inv Mngmt Ltd last reported 167,425 shares in the company. Blackrock Grp has invested 0% of its portfolio in Albany International Corp. (NYSE:AIN).

Insider Transactions: Since August 30, 2016, the stock had 0 buys, and 1 insider sale for $176,793 net activity. $176,793 worth of Albany International Corp. (NYSE:AIN) was sold by Hansen Robert Alan on Tuesday, August 30.

More recent Albany International Corp. (NYSE:AIN) news were published by: Bizjournals.com which released: “Harris Corp. selling its aerostructures business to Albany International for $210M” on February 29, 2016. Also Equitiesfocus.com published the news titled: “Albany International Corporation (NYSE:AIN) Reports Basic Consolidated EPS At …” on November 11, 2016. Businesswire.com‘s news article titled: “Albany International Announces Management Changes” with publication date: December 11, 2015 was also an interesting one.

AIN Company Profile

Albany International Corp., incorporated on July 24, 1987, is a textiles and materials processing company. The Firm operates through two divisions: Machine Clothing (MC) and Albany Engineered Composites (AEC). The Firm operates approximately 20 plants in over 10 countries. The Company’s manufacturing facilities are located in Brazil, Canada, China, France, Italy, Mexico, South Korea, Sweden, the United Kingdom and the United States.

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