Albany International Corp. (AIN) to Distribute Quarterly Dividend of $0.27 on April 7th

Albany International Corp. (NYSE:AIN) declared a quarterly dividend on Friday, February 21st, RTT News reports. Stockholders of record on Friday, March 21st will be given a dividend of 0.27 per share by the textile maker on Monday, April 7th. This represents a $1.08 annualized dividend and a dividend yield of 1.35%.

Albany International has raised its dividend by an average of 9.0% per year over the last three years. Albany International has a dividend payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Equities 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 3.1 %

AIN stock opened at $79.86 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 24.96 and a beta of 1.34. Albany International has a fifty-two week low of $67.39 and a fifty-two week high of $98.73. The stock has a fifty day moving average of $80.64 and a 200-day moving average of $81.82.

Wall Street Analyst Weigh In

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