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 Autoliv, Inc. (NYSE:ALV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 about 0.19% of Autoliv at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SouthState Corp bought a new position in Autoliv during the 1st quarter valued at about $25,000. GAMMA Investing LLC lifted its position in shares of Autoliv by 122.9% in the first quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock worth $33,000 after buying an additional 204 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Autoliv during the first quarter worth approximately $44,000. Signaturefd LLC grew its position in Autoliv by 63.4% in the 1st quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock valued at $60,000 after acquiring an additional 263 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Autoliv by 188.6% during the 1st quarter. UMB Bank n.a. now owns 788 shares of the auto parts company's stock worth $70,000 after buying an additional 515 shares in the last quarter. Hedge funds and other institutional investors own 69.57% of the company's stock.

Autoliv Trading Up 2.0%

NYSE:ALV traded up $2.45 during mid-day trading on Thursday, hitting $127.83. The company had a trading volume of 520,177 shares, compared to its average volume of 516,760. Autoliv, Inc. has a fifty-two week low of $75.49 and a fifty-two week high of $127.89. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 0.93. The firm has a market cap of $9.82 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.30 and a beta of 1.35. The business's fifty day moving average is $118.43 and its two-hundred day moving average is $104.33.

Autoliv (NYSE:ALV - Get Free Report) last announced its earnings results on Friday, July 18th. The auto parts company reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.07 by $0.14. The company had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.57 billion. Autoliv had a net margin of 6.83% and a return on equity of 30.73%. Autoliv's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 earnings per share. As a group, research analysts expect that Autoliv, Inc. will post 9.51 earnings per share for the current year.

Autoliv declared that its board has initiated a share repurchase program on Wednesday, June 4th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the auto parts company to reacquire up to 31.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently commented on ALV. Wells Fargo & Company upped their price objective on shares of Autoliv from $106.00 to $126.00 and gave the company an "equal weight" rating in a report on Tuesday. UBS Group upped their price target on Autoliv from $103.00 to $123.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Mizuho increased their price objective on shares of Autoliv from $95.00 to $112.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Barclays reaffirmed an "overweight" rating and issued a $135.00 target price (up from $105.00) on shares of Autoliv in a report on Wednesday, July 16th. Finally, Wall Street Zen raised Autoliv from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.92.

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.