Brokerages expect Albany International Corp. (NYSE:AIN) to announce $0.85 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Albany International’s earnings, with estimates ranging from $0.83 to $0.87. Albany International reported earnings of $0.82 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 3.7%. The business is expected to report its next earnings report on Monday, August 5th.
According to Zacks, analysts expect that Albany International will report full-year earnings of $3.39 per share for the current financial year, with EPS estimates ranging from $3.35 to $3.42. For the next fiscal year, analysts forecast that the firm will post earnings of $3.85 per share. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Albany International.
Albany International (NYSE:AIN) last issued its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.14. The business had revenue of $251.37 million during the quarter, compared to the consensus estimate of $253.75 million. Albany International had a return on equity of 16.39% and a net margin of 10.41%.
Separately, Zacks Investment Research upgraded Albany International from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Friday, May 3rd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Albany International has a consensus rating of “Hold” and a consensus price target of $85.67.
NYSE AIN traded up $0.16 during trading on Tuesday, hitting $80.33. The company’s stock had a trading volume of 4,039 shares, compared to its average volume of 246,780. The company has a current ratio of 2.99, a quick ratio of 2.49 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2.62 billion, a P/E ratio of 31.29 and a beta of 1.64. The firm’s 50 day moving average is $74.78. Albany International has a fifty-two week low of $58.06 and a fifty-two week high of $82.20.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 7th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, June 6th. Albany International’s payout ratio is 28.02%.
In other news, Director Christine L. Standish sold 1,616,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $64.67, for a total value of $104,506,720.00. Following the completion of the transaction, the director now directly owns 6,595 shares in the company, valued at $426,498.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.99% of the company’s stock.
Large investors have recently made changes to their positions in the company. First Trust Advisors LP raised its stake in shares of Albany International by 88.6% in the fourth quarter. First Trust Advisors LP now owns 54,163 shares of the textile maker’s stock worth $3,381,000 after purchasing an additional 25,446 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Albany International by 5.3% in the first quarter. Crossmark Global Holdings Inc. now owns 4,742 shares of the textile maker’s stock worth $339,000 after purchasing an additional 240 shares during the last quarter. Rhumbline Advisers raised its position in Albany International by 20.2% during the fourth quarter. Rhumbline Advisers now owns 88,728 shares of the textile maker’s stock valued at $5,539,000 after acquiring an additional 14,891 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Albany International by 576.2% during the first quarter. BNP Paribas Arbitrage SA now owns 6,681 shares of the textile maker’s stock valued at $478,000 after acquiring an additional 5,693 shares in the last quarter. Finally, Millennium Management LLC raised its position in Albany International by 13.8% during the fourth quarter. Millennium Management LLC now owns 245,352 shares of the textile maker’s stock valued at $15,317,000 after acquiring an additional 29,799 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.
About Albany International
Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.
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