Corient IA LLC Makes New Investment in Autoliv, Inc. $ALV

Key Points

• Corient IA LLC has established a new stake in Autoliv, acquiring 6,000 shares worth approximately $531,000 during the 1st quarter.
• Despite fluctuations, the majority of Autoliv's stock is held by institutional investors, who own about 69.57% of the company's shares.
• Autoliv has announced a dividend increase to $0.85 per share, representing a 2.9% yield, and plans a share buyback program of up to $2.50 billion.

Corient IA LLC acquired a new position in Autoliv, Inc. (NYSE:ALV - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,000 shares of the auto parts company's stock, valued at approximately $531,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northwest & Ethical Investments L.P. lifted its stake in shares of Autoliv by 34.1% in the first quarter. Northwest & Ethical Investments L.P. now owns 25,489 shares of the auto parts company's stock worth $2,255,000 after acquiring an additional 6,485 shares during the period. American Century Companies Inc. lifted its stake in shares of Autoliv by 22.4% in the first quarter. American Century Companies Inc. now owns 182,541 shares of the auto parts company's stock worth $16,146,000 after acquiring an additional 33,461 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Autoliv by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,857,069 shares of the auto parts company's stock worth $164,257,000 after acquiring an additional 233,469 shares during the period. HighTower Advisors LLC lifted its stake in shares of Autoliv by 7.1% in the first quarter. HighTower Advisors LLC now owns 8,411 shares of the auto parts company's stock worth $744,000 after acquiring an additional 556 shares during the period. Finally, SouthState Corp bought a new stake in Autoliv in the first quarter worth approximately $25,000. 69.57% of the stock is owned by institutional investors and hedge funds.

Autoliv Stock Up 0.0%

Shares of NYSE ALV traded up $0.0470 during midday trading on Thursday, hitting $119.9670. 353,612 shares of the stock traded hands, compared to its average volume of 805,944. The business has a 50 day moving average price of $114.33 and a two-hundred day moving average price of $101.13. Autoliv, Inc. has a one year low of $75.49 and a one year high of $120.35. The company has a market cap of $9.21 billion, a PE ratio of 13.13, a P/E/G ratio of 1.24 and a beta of 1.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 0.93.

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

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

Autoliv Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.8%. This is an increase from Autoliv's previous quarterly dividend of $0.70. The ex-dividend date is Friday, September 5th. Autoliv's dividend payout ratio is currently 30.63%.

Insider Transactions at Autoliv

In related 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 transaction of $168,437.60. Following the completion of the sale, the director owned 77,493 shares in the company, 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 SEC, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ALV. Jefferies Financial Group began coverage on Autoliv in a report on Wednesday, July 2nd. They issued a "buy" rating and a $140.00 target price for the company. Royal Bank Of Canada began coverage on Autoliv in a report on Wednesday, June 25th. They issued an "outperform" rating and a $133.00 target price for the company. Mizuho lifted their target price on Autoliv from $95.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Wall Street Zen upgraded Autoliv from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, UBS Group lifted their target price on Autoliv from $103.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $120.64.

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.