Albany Intl Corp Stock Price, News & Analysis

The Board of Directors of Albany International (NYSE: AIN) has announced a quarterly dividend of $0.21 per share on its Class A and Class B Common Stock. This dividend is payable on January 10, 2022, to shareholders of record on December 28, 2021. Albany International is a leader in engineered components for various industries, notably in machine clothing and advanced materials for aerospace applications, with operations in 11 countries and over 4,000 employees.

Albany International Corp. (NYSE: AIN) and Safran Aircraft Engines have extended their partnership until 2046 to develop next-generation aircraft engines. This collaboration aims to support the aviation industry's commitment to achieving net-zero CO₂ emissions by 2050. Initiated in 2006, their joint efforts have led to significant innovations, such as the advanced 3D-woven composite technology used in the LEAP engine. With three production plants established, they have delivered over 130,000 LEAP engine parts, reflecting their commitment to sustainability and improved fuel efficiency.

Albany International Corp. (NYSE: AIN) reported a strong third quarter for 2021, with revenues of $232.4 million, marking a 9.6% increase compared to the previous year. The company's gross profit rose to $92 million, a 5.4% increase. Operating income increased by 15% to $44.5 million. The firm raised its full-year guidance, expecting 2021 revenues between $900 and $920 million. In a strategic move, the Board authorized a $200 million share repurchase program to enhance shareholder returns. However, elevated tax rates and inflationary risks remain as challenges.

Albany International Corp. (NYSE:AIN) is set to announce its third-quarter financial results for 2021 on October 25, 2021, after market close. A webcast for discussing these results will occur on October 26, 2021, at 9:00 a.m. ET. Interested investors can access the webcast through the Company’s Investor Relations website or dial in at 1-(844) 291-6362 with the access code 8796723. Albany International specializes in engineered components for various industries, operating 23 facilities globally and employing around 4,000 staff.

Albany International Corp. (NYSE: AIN) CFO Stephen Nolan is scheduled to speak at the Sidoti Virtual Smallcap Conference on Wednesday, September 22, 2021, at 10:00 a.m. ET. Investors can tune into the live webcast on Albany's Investor Relations website, with a replay available for 90 days post-event. Albany International, headquartered in Rochester, New Hampshire, specializes in engineered components for various industries, notably machine clothing and advanced aerospace materials, operating 23 facilities across 11 countries.

The Board of Directors of Albany International Corp. (NYSE: AIN) has declared a quarterly dividend of $0.20 per share on its Class A and Class B Common Stock. This dividend is payable on October 7, 2021, to shareholders of record on September 7, 2021. Albany International is a prominent developer and manufacturer of engineered components, with significant operations in machine clothing and engineered composites, supporting various commercial and military applications.

Albany International Corp. (NYSE: AIN) has completed a secondary offering, selling 1,566,644 shares of its Class A common stock, generating approximately $119 million in net proceeds for the Selling Stockholders. The offering did not involve shares sold by the Company itself, which retained its financial position. J.P. Morgan Securities LLC acted as the sole underwriter for the offering. No new capital was raised for Albany International, as the proceeds benefit the Selling Stockholders only.

Albany International Corp. (NYSE: AIN) reported strong second-quarter results for 2021, with revenues of $234.5 million, a 4% increase year-over-year. The Machine Clothing and Engineered Composites segments both performed well, despite challenges in the aerospace supply chain. The company raised its full-year guidance, projecting revenue between $880 and $910 million and adjusted EPS between $2.90 and $3.20. Net income was $31.4 million, or $0.97 per share, down slightly from $32.4 million, or $1.00 per share, a year earlier. The outlook reflects confidence in recovery and operational performance.