Mondrian Investment Partners LTD Sells 27,171 Shares of Autoliv, Inc. (NYSE:ALV)

Key Points

• Mondrian Investment Partners LTD has reduced its holdings in Autoliv, Inc. by 2.0%, now owning 1,351,465 shares worth approximately $119.54 million, making it the 23rd largest holding in their portfolio.
• Autoliv reported earnings per share (EPS) of $2.21 for the last quarter, exceeding analysts' expectations by $0.14, and had a revenue of $2.71 billion.
• The company recently announced a $2.50 billion stock repurchase program, indicating the board's belief that the stock is undervalued, alongside an increase in its quarterly dividend to $0.85 per share.

Mondrian Investment Partners LTD lessened its holdings in Autoliv, Inc. (NYSE:ALV - Free Report) by 2.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,351,465 shares of the auto parts company's stock after selling 27,171 shares during the period. Autoliv accounts for approximately 2.0% of Mondrian Investment Partners LTD's portfolio, making the stock its 23rd largest holding. Mondrian Investment Partners LTD owned approximately 1.75% of Autoliv worth $119,537,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. SouthState Corp bought a new position in Autoliv during the first quarter valued at approximately $25,000. GAMMA Investing LLC increased its stake in Autoliv by 122.9% in the 1st quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock worth $33,000 after purchasing an additional 204 shares during the period. FNY Investment Advisers LLC bought a new stake in Autoliv in the first quarter valued at approximately $44,000. Signaturefd LLC boosted its stake in shares of Autoliv by 63.4% during the first quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock valued at $60,000 after purchasing an additional 263 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of 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 purchasing an additional 515 shares during the last quarter. Institutional investors own 69.57% of the company's stock.

Wall Street Analyst Weigh In

ALV has been the subject of a number of analyst reports. Royal Bank Of Canada assumed coverage on shares of Autoliv in a report on Wednesday, June 25th. They set an "outperform" rating and a $133.00 target price for the company. BNP Paribas Exane raised Autoliv from a "neutral" rating to an "outperform" rating and set a $123.00 target price on the stock in a research note on Friday, May 9th. Robert W. Baird dropped their price target on Autoliv from $126.00 to $124.00 and set a "neutral" rating for the company in a research note on Monday, July 21st. Wall Street Zen raised shares of Autoliv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, UBS Group upped 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. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Autoliv has an average rating of "Moderate Buy" and an average price target of $120.64.

Autoliv Stock Performance

ALV traded down $0.57 during midday trading on Friday, reaching $118.37. The company had a trading volume of 451,045 shares, compared to its average volume of 814,674. Autoliv, Inc. has a 1 year low of $75.49 and a 1 year high of $119.53. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market cap of $9.09 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.23 and a beta of 1.39. The business has a 50-day moving average of $113.60 and a two-hundred day moving average of $100.72.

Autoliv (NYSE:ALV - Get Free Report) last issued its earnings results on Friday, July 18th. The auto parts company reported $2.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the company earned $1.87 EPS. The firm's quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts predict that Autoliv, Inc. will post 9.51 earnings per share for the current fiscal year.

Autoliv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Friday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Autoliv's previous quarterly dividend of $0.70. Autoliv's dividend payout ratio is currently 30.63%.

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

Insider Activity 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 shares were sold at an average price of $108.32, for a total transaction of $168,437.60. Following the sale, the director owned 77,493 shares of the company's stock, valued at $8,394,041.76. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company's stock.

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.