Albany International has increased its dividend payment by an average of 1.0% per year over the last three years. Albany International has a dividend payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Albany International to earn $3.98 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 18.1%.
Albany International Corp. (NYSE:AIN) declared a quarterly dividend on Monday, February 25th, Wall Street Journal reports. Stockholders of record on Monday, March 18th will be paid a dividend of 0.18 per share by the textile maker on Friday, April 5th. This represents a $0.72 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, March 15th.
Shares of NYSE AIN opened at $72.93 on Thursday. The company has a market capitalization of $2.33 billion, a PE ratio of 26.29 and a beta of 1.74. Albany International has a 52-week low of $57.95 and a 52-week high of $82.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.68 and a current ratio of 3.13.
Albany International (NYSE:AIN) last issued its earnings results on Monday, February 11th. The textile maker reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.09). The firm had revenue of $251.61 million during the quarter, compared to the consensus estimate of $251.50 million. Albany International had a return on equity of 14.79% and a net margin of 8.72%. On average, research analysts anticipate that Albany International will post 3.49 earnings per share for the current year.
Several research analysts have recently issued reports on AIN shares. Noble Financial reiterated a “hold” rating on shares of Albany International in a research note on Sunday, December 9th. Sidoti dropped their target price on shares of Albany International from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Monday, December 17th. Zacks Investment Research downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Finally, Robert W. Baird initiated coverage on shares of Albany International in a research report on Friday, February 22nd. They set an “outperform” rating and a $93.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $83.00.
About Albany International
Albany International Corp. engages in textile and materials processing businesses worldwide. The company operates through two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing. This segment offers forming, pressing, dryer fabrics, and process belts.
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