Price Action To Observe: What’s in Albany International Corp. After Touching 52-Week High?

Price Action To Observe: What's in Albany International Corp. After Touching 52 Week High?

The stock of Albany International Corp. (NYSE:AIN) hit a new 52-week high and has $48.87 target or 3.00% above today’s $47.45 share price. The 9 months bullish chart indicates low risk for the $1.53 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $48.87 price target is reached, the company will be worth $45.90M 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 67,115 shares traded hands. Albany International Corp. (NYSE:AIN) has risen 13.96% since April 28, 2016 and is uptrending. It has outperformed by 8.03% the S&P500.

Analysts await Albany International Corp. (NYSE:AIN) to report earnings on February, 13.

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 improved, 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.
Louisiana State Employees Retirement holds 0.03% of its portfolio in Albany International Corp. (NYSE:AIN) for 12,800 shares. Parametric Port Associates Ltd Liability reported 86,339 shares or 0.01% of all its holdings. Rice Hall James And Limited has invested 1% of its portfolio in Albany International Corp. (NYSE:AIN). The Illinois-based Envestnet Asset Management Inc has invested 0% in Albany International Corp. (NYSE:AIN). State Street has 0% invested in the company for 566,996 shares. Granahan Inv Ma holds 1% of its portfolio in Albany International Corp. (NYSE:AIN) for 684,500 shares. Nwq Limited Liability Company owns 780,868 shares or 0.54% of their US portfolio. Teacher Retirement Systems Of Texas has 0% invested in the company for 4,021 shares. Parkside Bank & accumulated 0% or 180 shares. Moreover, Wellington Group Inc Inc Limited Liability Partnership has 0.03% invested in Albany International Corp. (NYSE:AIN) for 2.77 million shares. Jpmorgan Chase & reported 47,714 shares or 0% of all its holdings. Ig Inv Mgmt Limited accumulated 0% or 18,131 shares. Gamco Investors Et Al last reported 0.02% of its portfolio in the stock. The Tennessee-based Ftb Advisors has invested 0% in Albany International Corp. (NYSE:AIN). Paradigm Asset Mngmt Co Ltd Co, a New York-based fund reported 2,600 shares.

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

More news for Albany International Corp. (NYSE:AIN) were recently published by: Marketwatch.com, which released: “Albany International Corp. Cl A” on October 25, 2010. Bizjournals.com‘s article titled: “Harris Corp. selling its aerostructures business to Albany International for $210M” and published on February 29, 2016 is yet another important article.

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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