Autoliv (NYSE:ALV) Stock Price Down 4% - Here's What Happened

Autoliv, Inc. (NYSE:ALV - Get Free Report) was down 4% on Thursday . The stock traded as low as $117.19 and last traded at $113.64. Approximately 713,669 shares traded hands during trading, a decline of 12% from the average daily volume of 809,720 shares. The stock had previously closed at $118.34.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price objective on Autoliv from $100.00 to $104.00 and gave the company an "equal weight" rating in a research note on Tuesday. Royal Bank Of Canada started coverage on shares of Autoliv in a report on Wednesday, June 25th. They issued an "outperform" rating and a $133.00 target price on the stock. BNP Paribas upgraded shares of Autoliv from a "hold" rating to a "strong-buy" rating in a report on Friday, May 9th. Robert W. Baird dropped their price objective on shares of Autoliv from $105.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Barclays raised their price objective on shares of Autoliv from $97.00 to $105.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $117.06.

Autoliv Price Performance

The stock has a 50-day moving average price of $103.34 and a 200 day moving average price of $96.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.73. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.95 and a beta of 1.37.

Autoliv (NYSE:ALV - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The auto parts company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.43. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.50 billion. Autoliv had a return on equity of 30.47% and a net margin of 6.63%. During the same quarter last year, the business posted $1.58 EPS. As a group, equities research analysts forecast that Autoliv, Inc. will post 9.51 earnings per share for the current fiscal year.

Autoliv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.89%. This is a boost from Autoliv's previous quarterly dividend of $0.70. The ex-dividend date is Friday, September 5th. Autoliv's payout ratio is presently 32.22%.

Autoliv announced that its Board of Directors has authorized a share buyback program on Wednesday, June 4th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the auto parts company to reacquire up to 31.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Jan Carlson sold 1,555 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $108.32, for a total value of $168,437.60. Following the completion of the sale, the director directly owned 77,493 shares of the company's stock, valued at approximately $8,394,041.76. This represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Autoliv

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lancaster Investment Management lifted its position in Autoliv by 17.7% during the 4th quarter. Lancaster Investment Management now owns 568,821 shares of the auto parts company's stock worth $53,350,000 after acquiring an additional 85,732 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Autoliv during the first quarter worth $637,000. Asset Management One Co. Ltd. lifted its holdings in shares of Autoliv by 7.3% during the first quarter. Asset Management One Co. Ltd. now owns 75,591 shares of the auto parts company's stock worth $6,686,000 after purchasing an additional 5,137 shares during the period. GAMMA Investing LLC grew its position in Autoliv by 19,615.1% in the 1st quarter. GAMMA Investing LLC now owns 32,727 shares of the auto parts company's stock valued at $2,895,000 after buying an additional 32,561 shares during the last quarter. Finally, Callan Family Office LLC acquired a new position in Autoliv in the 4th quarter valued at $326,000. Hedge funds and other institutional investors own 69.57% of the company's stock.

About Autoliv

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies passive safety systems to the automotive industry in Europe, the Americas, China, Japan, and rest of Asia. It offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, and inflator technologies.

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