Joseph M Gaug, the VP-General Counsel & Secretary of Albany INternational ($AIN), bought 500 shares of the company on 11-05-2024. We received data on the trade from a recent SEC filing. This increased their holdings by approximately 7.9%. Following this trade, they now own 6,811 shares of Albany INternational stock.
Albany INternational Insider Trading Activity
Albany INternational insiders have traded $AIN stock on the open market 5 times in the past 6 months. Of those trades, 5 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $AIN stock by insiders over the last 6 months:
- ROBERT D. STARR (CFO & TREASURER) purchased 1,000 shares.
- GUNNAR KLEVELAND (President and CEO) purchased 1,400 shares.
- JOSEPH M GAUG (VP-General Counsel & Secretary) has traded it 2 times. They made 2 purchases, buying 1,000 shares and 0 sales.
- ROBERT ALAN HANSEN (Senior Vice President & CTO) purchased 1,050 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
Albany INternational Hedge Fund Activity
We have seen 137 institutional investors add shares of Albany INternational stock to their portfolio, and 138 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BANK OF AMERICA CORP /DE/ added 1,144,662 shares (+3793.5%) to their portfolio in Q2 2024
- WESTWOOD HOLDINGS GROUP INC removed 688,522 shares (-100.0%) from their portfolio in Q2 2024
- WASATCH ADVISORS LP removed 261,407 shares (-100.0%) from their portfolio in Q2 2024
- GRANITE INVESTMENT PARTNERS, LLC removed 207,298 shares (-76.7%) from their portfolio in Q2 2024
- VICTORY CAPITAL MANAGEMENT INC added 163,934 shares (+24.0%) to their portfolio in Q3 2024
- HAWK RIDGE CAPITAL MANAGEMENT LP added 121,291 shares (+inf%) to their portfolio in Q2 2024
- NORTHERN TRUST CORP removed 102,252 shares (-24.7%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Should I Buy $AIN Stock?
The bull case for Albany International Corp ($AIN) centers on its robust revenue growth, with notable increases in its machine clothing segment sales by 21% year-over-year, largely attributable to the successful acquisition of Heimbach, alongside a resilient engineered composites segment that has grown 11% due to demand in the commercial aerospace sector. Overall, the 16% rise in total revenue to $313 million positions the company favorably for future growth, particularly in the narrow-body aircraft production market linked to LEAP engine exposure. However, the bear case highlights significant challenges, including a 510 basis point decline in adjusted EBITDA margins to 17.9%, driven by lower margins in the engineered composites segment and delays in machine clothing sales due to integration issues with a new SAP system. Additionally, anticipated production cuts and uncertainties surrounding defense contracts create a cautious outlook on revenue growth and margin recovery in the near term.
Background on $AIN Stock
Albany International Corp (AIN) is a global advanced textiles and materials processing company primarily focused on providing innovative solutions for the aerospace and industrial markets. The company specializes in manufacturing engineered fabrics and machined components that are vital for various applications, including textiles for paper production, industrial filtration, and high-performance aerospace components. Albany International operates through two primary segments: the Engineered Composites segment, which produces lightweight materials for aircraft and aerospace applications, and the Machine Clothing segment, which focuses on textiles used in the paper-making process. With a commitment to sustainability and technological advancement, AIN works to enhance product performance and efficiency while addressing the evolving needs of its customers across diverse industries.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
