The stock of Albany International Corp. (NYSE:AIN) reached all time high today, Nov, 14 and still has $55.63 target or 25.00% above today’s $44.50 share price. This indicates more upside for the $1.48 billion company. This technical setup was reported by Barchart.com. If the $55.63 PT is reached, the company will be worth $370.00M 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 66,862 shares traded hands. Albany International Corp. (NYSE:AIN) has risen 12.50% since April 12, 2016 and is uptrending. It has outperformed by 7.52% 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 is negative, 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.
Paradigm Capital Mgmt New York last reported 10,000 shares in the company. Moreover, Pub Sector Pension Investment Board has 0.01% invested in Albany International Corp. (NYSE:AIN) for 19,869 shares. Blackrock Group holds 43,959 shares or 0% of its portfolio. Glenmede Trust Com Na holds 41 shares or 0% of its portfolio. Moreover, Thompson Davis And Inc has 0.03% invested in Albany International Corp. (NYSE:AIN) for 425 shares. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Albany International Corp. (NYSE:AIN) for 626 shares. Grp holds 21,336 shares or 0% of its portfolio. State Street Corporation last reported 566,996 shares in the company. Comml Bank Of America De owns 76,766 shares or 0% of their US portfolio. Tiaa Cref Invest Mgmt Limited Co accumulated 167,425 shares or 0.01% of the stock. Goldman Sachs Gru accumulated 0% or 29,070 shares. National Bank & Trust Of Ny Mellon accumulated 0.01% or 410,339 shares. Renaissance Technologies Limited Liability Co, a New York-based fund reported 854,400 shares. Teachers Retirement Sys Of The State Of Kentucky last reported 10,600 shares in the company. Credit Suisse Ag holds 0% or 31,969 shares in its portfolio.
Insider Transactions: Since August 30, 2016, the stock had 0 insider buys, and 1 insider sale for $176,793 net activity. Shares for $176,793 were sold by Hansen Robert Alan on Tuesday, August 30.
More recent Albany International Corp. (NYSE:AIN) news were published by: Marketwatch.com which released: “Albany International Corp. Cl A” on October 25, 2010. Also Bizjournals.com published the news titled: “Harris Corp. selling its aerostructures business to Albany International for $210M” on February 29, 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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