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

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 yield of 1.35%.

Albany International has increased its dividend by an average of 9.0% annually over the last three years. Albany International has a payout ratio of 24.0% indicating that 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 Trading Down 3.1 %

NYSE AIN traded down $2.58 during trading on Friday, reaching $79.86. 140,304 shares of the stock traded hands, compared to its average volume of 152,144. 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 stock’s 50-day moving average price is $80.68 and its 200 day moving average price is $81.88. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International has a fifty-two week low of $67.39 and a fifty-two week high of $98.73.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AIN. Bank of America decreased their price objective on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. reduced 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. Truist Financial upped their price target on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a report 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.