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

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

Albany International has increased 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. 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 Price Performance

Shares of Albany International stock traded down $2.58 during trading on Friday, hitting $79.86. 140,304 shares of the company’s stock traded hands, compared to its average volume of 152,144. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The firm’s fifty day moving average price is $80.68 and its 200 day moving average price is $81.88. Albany International has a twelve month low of $67.39 and a twelve month high of $98.73. The company has a market cap of $2.50 billion, a PE ratio of 24.96 and a beta of 1.34.

Analyst Ratings Changes

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