Albany International Corp. to Issue Quarterly Dividend of $0.27 (NYSE:AIN)

Albany International Corp. (NYSE:AIN) announced a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.27 per share by the textile maker on Monday, April 7th. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, March 21st.

Albany International has increased its dividend payment by an average of 9.0% annually over the last three years. Albany International has a dividend payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Albany International to earn $3.79 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 28.5%.

Albany International Stock Down 0.1 %

NYSE AIN opened at $73.90 on Wednesday. Albany International has a 12 month low of $67.39 and a 12 month high of $96.49. The company has a market capitalization of $2.28 billion, a P/E ratio of 23.09 and a beta of 1.37. The company’s 50 day simple moving average is $78.77 and its 200 day simple moving average is $79.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. Equities research analysts expect that Albany International will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on AIN. TD Cowen upgraded Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Robert W. Baird dropped their price objective on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Truist Financial increased their target price on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Albany International currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.