Fintel reports that on July 14, 2023, Baird upgraded their outlook for Albany International - (NYSE:AIN) from Neutral to Outperform .
Analyst Price Forecast Suggests 8.45% Upside
As of July 6, 2023, the average one-year price target for Albany International - is 101.39. The forecasts range from a low of 91.91 to a high of $110.25. The average price target represents an increase of 8.45% from its latest reported closing price of 93.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Albany International - is 1,065MM, an increase of 0.49%. The projected annual non-GAAP EPS is 4.01.
Albany International - Declares $0.25 Dividend
On May 12, 2023 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of June 7, 2023 received the payment on July 10, 2023. Previously, the company paid $0.25 per share.
At the current share price of $93.49 / share, the stock's dividend yield is 1.07%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.05%, the lowest has been 0.80%, and the highest has been 1.88%. The standard deviation of yields is 0.20 (n=234).
The current dividend yield is 0.11 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.33. 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 0.32%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 549 funds or institutions reporting positions in Albany International -. This is an increase of 1 owner(s) or 0.18% in the last quarter. Average portfolio weight of all funds dedicated to AIN is 0.18%, a decrease of 5.25%. Total shares owned by institutions decreased in the last three months by 2.93% to 35,615K shares. 
The put/call ratio of AIN is 1.33, indicating a bearish outlook.
What are Other Shareholders Doing?
Earnest Partners holds 2,804K shares representing 9.00% ownership of the company. In it's prior filing, the firm reported owning 2,854K shares, representing a decrease of 1.80%. The firm decreased its portfolio allocation in AIN by 15.99% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,266K shares representing 7.27% ownership of the company. In it's prior filing, the firm reported owning 2,304K shares, representing a decrease of 1.72%. The firm decreased its portfolio allocation in AIN by 13.42% over the last quarter.
Bank Of America holds 1,332K shares representing 4.27% ownership of the company. In it's prior filing, the firm reported owning 1,424K shares, representing a decrease of 6.87%. The firm decreased its portfolio allocation in AIN by 80.49% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 1,162K shares representing 3.73% ownership of the company. In it's prior filing, the firm reported owning 1,717K shares, representing a decrease of 47.79%. The firm decreased its portfolio allocation in AIN by 42.20% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 962K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 944K shares, representing an increase of 1.86%. The firm decreased its portfolio allocation in AIN by 14.72% 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.
Additional reading:
- FIRST AMENDMENT dated as of June 23, 2023 (this “Amendment”), between ALBANY INTERNATIONAL CORP, a Delaware corporation (the “Company”), and JPMORGAN CHASE BANK, N.A., as Administrative Agent.
- Albany International Enters Definitive Agreement to Acquire Heimbach Group for €153 Million Transaction Provides Increased Scale, Broader Geographic Footprint, Complementary Technologies and Significant Margin Expansion Opportunities
- SPECIAL INCENTIVE AWARD AGREEMENT
- Amended and Restated Certificate of Incorporation of Albany International Corp.
- Quantitative and qualitative disclosures about market risks as reported at March 31, 2023.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
