Fintel reports that on March 28, 2024, B of A Securities downgraded their outlook for Albany International (NYSE:AIN) from Neutral to Underperform.

Analyst Price Forecast Suggests 17.13% Upside

As of March 11, 2024, the average one-year price target for Albany International is 113.02. The forecasts range from a low of 103.02 to a high of $127.05. The average price target represents an increase of 17.13% from its latest reported closing price of 96.49.

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The projected annual revenue for Albany International is 1,148MM, an increase of 0.01%. The projected annual non-GAAP EPS is 4.62.

Albany International Declares $0.26 Dividend

On February 23, 2024 the company declared a regular quarterly dividend of $0.26 per share ($1.04 annualized). Shareholders of record as of March 15, 2024 will receive the payment on April 5, 2024. Previously, the company paid $0.26 per share.

At the current share price of $96.49 / share, the stock's dividend yield is 1.08%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.07%, the lowest has been 0.80%, and the highest has been 1.88%. The standard deviation of yields is 0.20 (n=232).

The current dividend yield is 0.05 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.29. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.30%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 560 funds or institutions reporting positions in Albany International. This is an increase of 6 owner(s) or 1.08% in the last quarter. Average portfolio weight of all funds dedicated to AIN is -5.14%, a decrease of 2,733.29%. Total shares owned by institutions increased in the last three months by 2.90% to 37,874K shares. The put/call ratio of AIN is 0.10, indicating a bullish outlook.

What are Other Shareholders Doing?

Earnest Partners holds 2,534K shares representing 8.12% ownership of the company. In it's prior filing, the firm reported owning 2,336K shares, representing an increase of 7.82%. The firm increased its portfolio allocation in AIN by 6.91% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 2,087K shares representing 6.69% ownership of the company. In it's prior filing, the firm reported owning 2,100K shares, representing a decrease of 0.65%. The firm decreased its portfolio allocation in AIN by 2.19% over the last quarter.

Bank Of America holds 1,105K shares representing 3.54% ownership of the company. In it's prior filing, the firm reported owning 969K shares, representing an increase of 12.27%. The firm decreased its portfolio allocation in AIN by 68.81% over the last quarter.

Champlain Investment Partners holds 1,034K shares representing 3.31% ownership of the company. In it's prior filing, the firm reported owning 1,011K shares, representing an increase of 2.19%. The firm increased its portfolio allocation in AIN by 6.31% over the last quarter.

Kayne Anderson Rudnick Investment Management holds 1,033K shares representing 3.31% ownership of the company. In it's prior filing, the firm reported owning 1,066K shares, representing a decrease of 3.28%. The firm decreased its portfolio allocation in AIN by 3.30% over the last quarter.

Albany International Background Information
(This description is provided by the company.)

Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is the world's leading producer of fabrics and process felts used in the manufacture of all grades of paper products. Albany Engineered Composites is a rapidly growing designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 plants in 11 countries, employs more than 4,000 people worldwide.