Albany International traded at $53.57 this Friday March 13th, decreasing $1.09 or 1.99 percent since the previous trading session. Looking back, over the last four weeks, Albany International lost 6.83 percent. Over the last 12 months, its price fell by 27.59 percent. Looking ahead, we forecast Albany International to be priced at 51.95 by the end of this quarter and at 47.39 in one year, according to Trading Economics global macro models projections and analysts expectations.
Albany International Corp. is an advanced textiles and materials processing company. The Company operates through two segments: Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel, nonwovens, fiber cement and several other industrial applications. The MC segment also supplies engineered fabrics used in the manufacturing process in the pulp, corrugator, building products, and tannery and textile industries. It designs, manufactures, and markets paper machine clothing (used in the manufacturing of paper, paperboard, tissue and towel) for each section of the paper machine and for every grade of paper. The Albany Engineered Composites segment includes Albany Safran Composites, LLC, in which its customer SAFRAN Group owns interest, provides engineered, advanced composite structures to customers in the commercial and defense aerospace industries.