Alliancebernstein L.P. Sells 107,017 Shares of Autoliv, Inc. $ALV

Key Points

• Alliancebernstein L.P. has reduced its stake in Autoliv, Inc. by 29.6%, selling 107,017 shares and owning 254,330 shares worth approximately $22.5 million.
• Autoliv reported better-than-expected quarterly earnings with an EPS of $2.21, beating estimates by $0.14, and had quarterly revenue of $2.71 billion.
• The company has authorized a $2.5 billion share repurchase plan to buy back up to 31.3% of its outstanding shares, indicating management's belief that the stock is undervalued.

Alliancebernstein L.P. reduced its position in shares of Autoliv, Inc. (NYSE:ALV - Free Report) by 29.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 254,330 shares of the auto parts company's stock after selling 107,017 shares during the period. Alliancebernstein L.P. owned 0.33% of Autoliv worth $22,495,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SouthState Corp purchased a new stake in shares of Autoliv during the first quarter worth about $25,000. GAMMA Investing LLC lifted its holdings in 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 during the period. FNY Investment Advisers LLC purchased a new stake in Autoliv in the first quarter worth about $44,000. Signaturefd LLC lifted its holdings in Autoliv by 63.4% in the first quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock worth $60,000 after buying an additional 263 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Autoliv by 188.6% in the first 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 during the period. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

Autoliv Stock Down 1.2%

NYSE ALV traded down $1.55 during mid-day trading on Tuesday, reaching $124.97. The stock had a trading volume of 543,347 shares, compared to its average volume of 495,588. Autoliv, Inc. has a 1 year low of $75.49 and a 1 year high of $127.89. The stock has a market cap of $9.60 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.31 and a beta of 1.35. The company has a fifty day moving average price of $118.99 and a 200 day moving average price of $104.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.70.

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

Autoliv announced that its board has approved a share 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 buy up to 31.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays restated an "overweight" rating and issued a $135.00 price objective (up from $105.00) on shares of Autoliv in a report on Wednesday, July 16th. UBS Group raised their price objective on shares of Autoliv from $103.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of Autoliv from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Wells Fargo & Company raised their price objective on shares of Autoliv from $106.00 to $126.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 9th. Finally, Royal Bank Of Canada began coverage on shares of Autoliv in a report on Wednesday, June 25th. They issued an "outperform" rating and a $133.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Autoliv 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.