The Best Stock in New Hampshire: Albany International

We scoured the nation to identify the best stock in every state. Albany International (symbol AIN) is the publicly traded company we picked in New Hampshire. The company headquarters is located in Rochester.

A word of caution: Since we selected a single stock from each state (plus one from D.C), and choices in some states are sparse, a few of our picks are best suited to investors comfortable with a higher degree of risk. This is not necessarily one of our 51 favorite stocks in the entire U.S., in other words.

Albany International by the Numbers

• Headquarters: Rochester
• Share price: $50.80
• Market value: $1.6 billion
• Price-earnings ratio: N/A

(Prices and data are as of June 22, 2017)

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Albany International’s 22 plants in 12 countries operate in two core businesses. Albany is the global leader, with 30% of the worldwide market, in the manufacture of machine clothing – custom-designed fabrics and belts that are used in the production of paper. The company also makes lightweight composite parts, such as landing gear braces and rotor blades, for aircraft.

The stock is hovering near its all-time high, and growth in the company’s business argues for further gains, says Value Line analyst Simon Shoucair. The company’s acquisition of the Harris Corporation’s composite aircraft parts division should deliver more orders from major aircraft manufacturers that Harris already counts as customers, such as Sikorsky, Boeing and Lockheed Martin. That should bode well for sales and earnings growth for this year and beyond, Shoucair says. He forecasts 13% growth in earnings per share on 9% sales growth this year, with a nearly identical performance in 2018.