Squarepoint Ops LLC Lowers Stake in Autoliv, Inc. $ALV

Key Points

• Squarepoint Ops LLC cut its Autoliv stake by 77.5% in the second quarter, selling 55,768 shares and retaining 16,232 shares valued at approximately $1.89 million. 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 per share of $2.43 narrowly missed analysts’ $2.46 estimate.
• The company declared a quarterly dividend of $0.87 per share, equivalent to an annualized $3.48 payout and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $135.20.

Squarepoint Ops LLC reduced its stake in shares of Autoliv, Inc. (NYSE:ALV - Free Report) by 77.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,232 shares of the auto parts company's stock after selling 55,768 shares during the period. Squarepoint Ops LLC's holdings in Autoliv were worth $1,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in Autoliv by 298.8% in the fourth quarter. Allworth Financial LP now owns 327 shares of the auto parts company's stock valued at $39,000 after acquiring an additional 245 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Autoliv during the second quarter worth about $60,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Autoliv in the 2nd quarter worth about $62,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Autoliv in the 2nd quarter worth about $78,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Autoliv by 16.5% in the 2nd quarter. GAMMA Investing LLC now owns 988 shares of the auto parts company's stock worth $115,000 after purchasing an additional 140 shares in the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

Autoliv Trading Down 2.1%

NYSE ALV opened at $118.65 on Tuesday. Autoliv, Inc. has a 1-year low of $99.16 and a 1-year high of $132.17. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average of $121.57 and a 200-day moving average of $117.79. The firm has a market cap of $8.69 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 0.97 and a beta of 1.36.

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

Autoliv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 28th. Autoliv's dividend payout ratio is 40.99%.

Wall Street Analysts Forecast Growth

ALV has been the subject of a number of recent research reports. Wall Street Zen downgraded Autoliv from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Weiss Ratings downgraded shares of Autoliv from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, July 20th. Wells Fargo & Company boosted their price objective on shares of Autoliv from $116.00 to $122.00 and gave the stock an "equal weight" rating in a report on Thursday, June 25th. Jefferies Financial Group raised shares of Autoliv to a "hold" rating in a research note on Monday, June 15th. Finally, UBS Group upped their price objective on shares of Autoliv from $110.00 to $122.00 and gave the company a "neutral" rating in a research note on Monday, June 15th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Autoliv currently has a consensus rating of "Moderate Buy" and an average price target of $135.20.

About Autoliv

Autoliv, Inc is a global supplier of automotive safety systems. The company develops and manufactures products designed to help protect vehicle occupants and other road users, including airbags, seat belts, steering wheels, restraint systems and pedestrian-protection solutions.

Autoliv supplies automotive manufacturers and operates across major vehicle-producing regions, including Europe, the Americas and Asia. Its products are incorporated into vehicles produced by automakers worldwide, and the company works with vehicle manufacturers to develop safety systems for passenger cars and other vehicles.

The company's roots trace to Sweden in 1953, and it has grown into an international automotive-safety business through organic development and acquisitions.

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