Manhattan West Asset Management LLC Takes Position in Autoliv, Inc. $ALV

Key Points

• Manhattan West Asset Management initiated a position in Autoliv worth approximately $4.11 million, buying 35,379 shares during the second quarter. Institutional investors collectively own 69.57% of the company.
• Autoliv reported quarterly revenue of $2.80 billion, up 3.3% year over year, but earnings of $2.43 per share fell slightly short of analyst expectations. The company declared a quarterly dividend of $0.87, representing an annualized yield of about 2.8%.
• Analysts maintain a generally positive view, with eight Buy ratings and five Holds, producing a “Moderate Buy” consensus and an average price target of $135.93. Shares recently opened at $125.23, while director Jan Carlson sold 19,607 shares at $130 each.

Manhattan West Asset Management LLC acquired a new position in Autoliv, Inc. (NYSE:ALV - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,379 shares of the auto parts company's stock, valued at approximately $4,110,000.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Autoliv in the 2nd quarter valued at $573,245,000. Norges Bank acquired a new position in shares of Autoliv during the 4th quarter worth about $125,609,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Autoliv by 127,512.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 579,360 shares of the auto parts company's stock worth $68,770,000 after buying an additional 578,906 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Autoliv in the 2nd quarter valued at about $65,124,000. Finally, AQR Capital Management LLC grew its holdings in shares of Autoliv by 151.7% in the 3rd quarter. AQR Capital Management LLC now owns 923,700 shares of the auto parts company's stock valued at $114,077,000 after acquiring an additional 556,651 shares in the last quarter. Institutional investors and hedge funds own 69.57% of the company's stock.

Insiders Place Their Bets

In other news, Director Jan Carlson sold 19,607 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $130.00, for a total transaction of $2,548,910.00. Following the completion of the sale, the director owned 60,000 shares in the company, valued at $7,800,000. The trade was a 24.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Autoliv Trading Up 2.9%

Shares of Autoliv stock opened at $125.23 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.03 and a quick ratio of 0.79. The business has a fifty day simple moving average of $120.36 and a two-hundred day simple moving average of $118.07. Autoliv, Inc. has a 1 year low of $99.16 and a 1 year high of $132.17. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.97 and a beta of 1.34.

Autoliv (NYSE:ALV - Get Free Report) last released its quarterly earnings data on Friday, July 17th. The auto parts company reported $2.43 EPS for the quarter, missing the consensus estimate of $2.46 by ($0.03). The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.77 billion. Autoliv had a net margin of 5.79% and a return on equity of 29.36%. Autoliv's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Research analysts forecast that Autoliv, Inc. will post 10.04 EPS for the current year.

Autoliv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 28th will be paid a $0.87 dividend. The ex-dividend date is Friday, August 28th. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. Autoliv's dividend payout ratio is 40.99%.

Analysts Set New Price Targets

ALV has been the topic of a number of recent research reports. Royal Bank Of Canada lowered their target price on Autoliv from $148.00 to $147.00 and set an "outperform" rating on the stock in a research report on Monday, July 20th. UBS Group raised their price target on Autoliv from $110.00 to $122.00 and gave the company a "neutral" rating in a research note on Monday, June 15th. Weiss Ratings lowered Autoliv from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, July 20th. Wall Street Zen cut Autoliv from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Finally, TD Cowen cut their price objective on Autoliv from $150.00 to $148.00 and set a "buy" rating for the company in a report on Monday, July 20th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Autoliv presently has an average rating of "Moderate Buy" and an average price target of $135.93.

Autoliv Profile

Autoliv Inc NYSE: ALV is a leading global supplier of automotive safety systems, specializing in the design, development and manufacture of passive and active safety products. Its core product portfolio includes airbags, seatbelts, steering wheels, restraint control modules and pedestrian protection systems. In recent years, the company has also expanded into active safety technologies, offering radar, camera and sensor solutions that support advanced driver assistance systems (ADAS) and autonomous driving applications.

Founded in 1997 following the spin-off of Electrolux's automotive safety business, Autoliv has evolved into a multinational organization with a presence in over 27 countries.

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