On November 5, 2024, Robert Starr, CFO & Treasurer of Albany International Corp (AIN, Financial), purchased 1,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 3,610 shares of Albany International Corp.
Albany International Corp is engaged in providing advanced textiles and materials processing. The company operates globally, focusing on high-performance materials and components that are key to operational success in multiple industries.
Over the past year, Robert Starr has increased his holdings by 2,000 shares, with no recorded sales of the company's stock. This recent acquisition aligns with a broader trend within the company, where there have been six insider buys and no insider sells over the past year.
Shares of Albany International Corp were priced at $71.38 on the day of the transaction. The company's market cap stands at approximately $2.3 billion. The price-earnings ratio is currently 22.96, which is above the industry median of 19.36 but below the company's historical median.
According to the GF Value, the intrinsic value of Albany International Corp is estimated at $109.17 per share, suggesting that the stock is significantly undervalued with a price-to-GF-Value ratio of 0.65.
This insider buying activity may signal a positive outlook from the insider on the company's current valuation and future prospects.
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