Adage Capital Partners GP L.L.C. Makes New Investment in Autoliv, Inc. $ALV

Key Points

• Adage Capital Partners acquired a new stake in Autoliv, purchasing 150,000 shares worth approximately $13.27 million, which equates to 0.19% of the company's total shares.
• Autoliv reported a quarterly earnings per share of $2.21, exceeding estimates and marking a year-over-year revenue increase of 4.2%, with total revenue reaching $2.71 billion.
• The company's board authorized a $2.50 billion stock repurchase program, indicating confidence in the stock's valuation, while several analysts have adjusted their price targets, with the average target now at $120.69.

Adage Capital Partners GP L.L.C. bought a new position in shares of Autoliv, Inc. (NYSE:ALV - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 150,000 shares of the auto parts company's stock, valued at approximately $13,268,000. Adage Capital Partners GP L.L.C. owned 0.19% of Autoliv as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALV. First Trust Advisors LP purchased a new position in shares of Autoliv during the 4th quarter worth approximately $241,000. Northern Trust Corp grew its holdings in shares of Autoliv by 18.8% during the 4th quarter. Northern Trust Corp now owns 495,188 shares of the auto parts company's stock worth $46,444,000 after acquiring an additional 78,433 shares during the period. Bank of America Corp DE grew its holdings in shares of Autoliv by 40.6% during the 4th quarter. Bank of America Corp DE now owns 145,934 shares of the auto parts company's stock worth $13,687,000 after acquiring an additional 42,150 shares during the period. Captrust Financial Advisors grew its holdings in shares of Autoliv by 6.8% during the 4th quarter. Captrust Financial Advisors now owns 2,433 shares of the auto parts company's stock worth $228,000 after acquiring an additional 155 shares during the period. Finally, Crestline Management LP grew its holdings in shares of Autoliv by 88.8% during the 4th quarter. Crestline Management LP now owns 7,684 shares of the auto parts company's stock worth $721,000 after acquiring an additional 3,614 shares during the period. Hedge funds and other institutional investors own 69.57% of the company's stock.

Autoliv Trading Down 0.7%

NYSE:ALV opened at $124.57 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.70. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.35. Autoliv, Inc. has a one year low of $75.49 and a one year high of $126.10. The business has a fifty day moving average price of $117.56 and a 200-day moving average price of $103.55.

Autoliv (NYSE:ALV - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The auto parts company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.57 billion. Autoliv had a return on equity of 30.73% and a net margin of 6.83%.Autoliv's revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.87 EPS. Sell-side analysts forecast that Autoliv, Inc. will post 9.51 EPS for the current year.

Autoliv announced that its board has approved a stock repurchase program on Wednesday, June 4th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the auto parts company to repurchase up to 31.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

ALV has been the topic of several recent research reports. Robert W. Baird cut their price target on Autoliv from $126.00 to $124.00 and set a "neutral" rating on the stock in a research note on Monday, July 21st. Mizuho upped their price target on Autoliv from $95.00 to $112.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. BNP Paribas upgraded Autoliv from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 9th. Jefferies Financial Group initiated coverage on Autoliv in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $140.00 price target on the stock. Finally, Barclays restated an "overweight" rating and issued a $135.00 price target (up previously from $105.00) on shares of Autoliv in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Autoliv presently has an average rating of "Moderate Buy" and an average target price of $120.69.

Insider Activity at Autoliv

In other news, Director Jan Carlson sold 1,555 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was 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 in the company, valued at $8,394,041.76. This represents a 1.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is owned by company insiders.

Autoliv Profile

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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