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

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 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 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. 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 Performance

NYSE:AIN opened at $79.86 on Friday. The business’s 50-day moving average price is $80.64 and its two-hundred day moving average price is $81.82. Albany International has a twelve month low of $67.39 and a twelve month high of $98.73. The stock has a market cap of $2.50 billion, a P/E ratio of 24.96 and a beta of 1.34. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Analyst Upgrades and Downgrades

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

About Albany International

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.