The stock of Albany International Corp. (NYSE:AIN) reached all time high today, Nov, 21 and still has $60.62 target or 35.00% above today’s $44.90 share price. This indicates more upside for the $1.45B company. This technical setup was reported by Barchart.com. If the $60.62 PT is reached, the company will be worth $507.50 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 60,712 shares traded hands. Albany International Corp. (NYSE:AIN) has risen 10.11% since April 19, 2016 and is uptrending. It has outperformed by 6.25% 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 increased to 1.4 in Q2 2016. Its up 0.42, from 0.98 in 2016Q1. The ratio is positive, 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.
Independent Consultants Incorporated holds 0% or 375 shares in its portfolio. Nwq Investment Mgmt Limited Company reported 780,868 shares or 0.54% of all its holdings. Teachers Retirement Sys Of The State Of Kentucky holds 10,600 shares or 0.01% of its portfolio. Blackrock, a New York-based fund reported 6,415 shares. Pioneer Investment Management holds 0.04% of its portfolio in Albany International Corp. (NYSE:AIN) for 300,335 shares. Manufacturers Life Insurance The holds 0% or 19,571 shares in its portfolio. Moreover, Mufg Americas Corporation has 0% invested in Albany International Corp. (NYSE:AIN) for 326 shares. Bnp Paribas Arbitrage has 9,412 shares for 0% of their US portfolio. Sei Investments has invested 0.01% of its portfolio in Albany International Corp. (NYSE:AIN). Texas Permanent School Fund owns 22,021 shares or 0.01% of their US portfolio. Goldman Sachs Grp has 29,070 shares for 0% of their US portfolio. National Bank Of New York Mellon Corporation reported 410,339 shares or 0.01% of all its holdings. Wellington Mgmt Grp Inc Limited Liability Partnership has 2.77M shares for 0.03% of their US portfolio. Thrivent Financial For Lutherans reported 13,940 shares or 0% of all its holdings. Legal & General Group Public Limited Liability accumulated 5,358 shares or 0% of the stock.
Insider Transactions: Since August 30, 2016, the stock had 0 insider purchases, and 1 sale for $176,793 net activity. $176,793 worth of Albany International Corp. (NYSE:AIN) was sold by Hansen Robert Alan.
Another recent and important Albany International Corp. (NYSE:AIN) news was published by Bizjournals.com which published an article titled: “Harris Corp. selling its aerostructures business to Albany International for $210M” on February 29, 2016.
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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