Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, and towels. This segment offers forming, pressing, and drying fabrics, as well as process belts used in the manufacture of nonwovens, fiber cement and several other industrial applications; and engineered fabrics. The AEC segment 3D-woven and injected composite components for aircraft engines composite airframe and engine components for military and commercial aircraft. It operates in the United States, Switzerland, Brazil, China, France, Mexico, and internationally. Albany International Corp. was incorporated in 1895 and is headquartered in Rochester, New Hampshire.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Albany International from a "hold" rating to a "buy" rating in a research report on Wednesday, July 6th.
Albany International Trading Up 2.7 %
NYSE:AIN opened at $96.49 on Friday. Albany International has a 52 week low of $74.17 and a 52 week high of $96.49. The firm has a 50 day moving average of $83.13 and a 200 day moving average of $83.68. The company has a quick ratio of 3.73, a current ratio of 4.44 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 3.76 and a beta of 1.29.
Albany International (NYSE:AIN - Get Rating) last posted its earnings results on Monday, July 25th. The textile maker reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.26. Albany International had a net margin of 12.93% and a return on equity of 13.57%. During the same quarter in the previous year, the business earned $1.01 earnings per share. As a group, sell-side analysts anticipate that Albany International will post 3.56 earnings per share for the current fiscal year.
Albany International Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Tuesday, June 7th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 6th. This represents a $0.84 dividend on an annualized basis and a yield of 0.87%. Albany International's payout ratio is 21.27%.