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

Albany International Corp. (NYSE:AIN) declared a quarterly dividend on Friday, February 21st, RTT News reports. Investors 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 dividend yield of 1.35%.

Albany International has raised its dividend payment by an average of 9.0% annually over the last three years. Albany International has a payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE AIN traded down $2.58 during mid-day trading on Friday, reaching $79.86. The company had a trading volume of 140,304 shares, compared to its average volume of 115,885. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International has a one year low of $67.39 and a one year high of $98.73. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 24.96 and a beta of 1.34. The business’s 50-day simple moving average is $80.64 and its 200 day simple moving average is $81.85.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AIN shares. Truist Financial raised their price target on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Bank of America cut their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. Finally, TD Cowen raised Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Albany International has a consensus rating of “Moderate Buy” and an average price target of $80.75.

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.