Equities analysts expect Albany International Corp. (NYSE:AIN) to announce $0.85 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Albany International’s earnings, with the highest EPS estimate coming in at $0.87 and the lowest estimate coming in at $0.83. Albany International posted earnings of $0.82 per share during the same quarter last year, which indicates a positive year over year growth rate of 3.7%. The business is expected to announce 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 year, with EPS estimates ranging from $3.35 to $3.42. For the next year, analysts anticipate that the business will report earnings of $3.85 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Albany International.
Albany International (NYSE:AIN) last issued its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.14. The business had revenue of $251.37 million for the quarter, compared to analysts’ expectations of $253.75 million. Albany International had a return on equity of 16.39% and a net margin of 10.41%.
Shares of AIN traded up $0.16 during mid-day trading on Tuesday, hitting $80.33. 4,039 shares of the stock were exchanged, compared to its average volume of 246,780. The stock has a market cap of $2.62 billion, a P/E ratio of 31.29 and a beta of 1.64. Albany International has a 52-week low of $58.06 and a 52-week high of $82.20. The stock has a 50-day simple moving average of $74.78. 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 business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 7th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.72 annualized dividend and a yield of 0.90%. Albany International’s payout ratio is presently 28.02%.
In related news, Director Christine L. Standish sold 1,616,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $64.67, for a total transaction of $104,506,720.00. Following the sale, the director now owns 6,595 shares in the company, valued at approximately $426,498.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.99% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in AIN. Rhumbline Advisers grew its position in Albany International by 20.2% in the fourth quarter. Rhumbline Advisers now owns 88,728 shares of the textile maker’s stock valued at $5,539,000 after purchasing an additional 14,891 shares in the last quarter. LS Investment Advisors LLC grew its position in Albany International by 16.4% in the fourth quarter. LS Investment Advisors LLC now owns 1,617 shares of the textile maker’s stock valued at $101,000 after purchasing an additional 228 shares in the last quarter. Victory Capital Management Inc. grew its position in Albany International by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,850 shares of the textile maker’s stock valued at $365,000 after purchasing an additional 229 shares in the last quarter. Comerica Bank grew its position in Albany International by 0.7% in the fourth quarter. Comerica Bank now owns 29,768 shares of the textile maker’s stock valued at $2,007,000 after purchasing an additional 207 shares in the last quarter. Finally, Ramsey Quantitative Systems bought a new position in Albany International in the fourth quarter valued at $232,000. 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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