Price Action Don’t Lie: Albany International Corp.’s Stock Is Buy After Reaching 52-Week High

Price Action Don't Lie: Albany International Corp.'s Stock Is Buy After Reaching 52 Week High

The stock of Albany International Corp. (NYSE:AIN) hit a new 52-week high and has $73.14 target or 62.00% above today’s $45.15 share price. The 9 months bullish chart indicates low risk for the $1.46 billion company. The 1-year high was reported on Nov, 21 by If the $73.14 price target is reached, the company will be worth $905.20M 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 40,278 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 2016 Q2. 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.
Jpmorgan Chase has invested 0% of its portfolio in Albany International Corp. (NYSE:AIN). The New York-based Amer Int has invested 0% in Albany International Corp. (NYSE:AIN). Loomis Sayles And Lp owns 323,377 shares or 0.04% of their US portfolio. Wells Fargo & Co Mn accumulated 98,249 shares or 0% of the stock. Nationwide Fund Advsrs has 0.01% invested in the company for 65,147 shares. Texas Permanent School Fund holds 0.01% or 22,021 shares in its portfolio. The Texas-based Dimensional Fund Advsr Lp has invested 0.03% in Albany International Corp. (NYSE:AIN). Millennium Mngmt Limited Liability Company last reported 0.01% of its portfolio in the stock. Renaissance Techs Ltd Liability Com accumulated 0.06% or 854,400 shares. Tiaa Cref Mngmt Limited Liability Corp has invested 0.01% of its portfolio in Albany International Corp. (NYSE:AIN). Tower Research Llc (Trc) owns 2,702 shares or 0.01% of their US portfolio. Finemark Fincl Bank And Trust has 0% invested in the company for 305 shares. Creative Planning has invested 0% of its portfolio in Albany International Corp. (NYSE:AIN). Gemmer Asset Mgmt Limited Liability has 68 shares for 0% of their US portfolio. Sensato Invsts Limited Co reported 77,114 shares or 0.5% of all its holdings.

Insider Transactions: Since August 30, 2016, the stock had 0 buys, and 1 sale for $176,793 net activity. Another trade for 4,122 shares valued at $176,793 was sold by Hansen Robert Alan.

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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