Albany International Corp. (AIN) To Go Ex-Dividend on December 17th

Albany International Corp. (NYSE:AIN) declared a quarterly dividend on Friday, December 6th,RTT News reports. Shareholders of record on Tuesday, December 17th will be given a dividend of 0.27 per share by the textile maker on Wednesday, January 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from Albany International’s previous quarterly dividend of $0.26.

Albany International has increased its dividend payment by an average of 9.5% annually over the last three years. Albany International has a dividend payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Albany International to earn $3.85 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 28.1%.

Albany International Stock Performance

Shares of AIN stock opened at $81.96 on Friday. The business has a 50 day simple moving average of $77.92 and a 200 day simple moving average of $83.89. 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 has a market capitalization of $2.57 billion, a price-to-earnings ratio of 25.61 and a beta of 1.34. Albany International has a 12-month low of $67.39 and a 12-month high of $99.41.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. The business had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 earnings per share. On average, equities research analysts anticipate that Albany International will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AIN. Bank of America cut 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. Truist Financial dropped their price target on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research report on Friday. Finally, TD Cowen dropped their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.50.

Insider Activity at Albany International

In other Albany International news, CEO Gunnar Kleveland bought 1,400 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were bought at an average price of $71.25 per share, for a total transaction of $99,750.00. Following the acquisition, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 20.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Joseph M. Gaug purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $71.24 per share, with a total value of $71,240.00. Following the completion of the acquisition, the vice president now owns 6,811 shares of the company’s stock, valued at $485,215.64. This trade represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 3,450 shares of company stock worth $245,813. 0.76% of the stock is owned by corporate insiders.

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.