Todd Asset Management LLC Trims Stock Position in Autoliv, Inc. (NYSE:ALV)

Key Points

• Todd Asset Management LLC reduced its holdings in Autoliv, Inc. by 7.2% in the first quarter, selling 2,700 shares, and now owns 35,000 shares valued at approximately $3,096,000.
• Autoliv has announced a $2.50 billion share repurchase program, allowing for the buyback of up to 31.3% of its shares, signaling management's belief that the stock is undervalued.
• The company's quarterly earnings showed $2.21 per share, exceeding analysts' estimates, and a 4.2% revenue increase year-over-year, with revenue hitting $2.71 billion.

Todd Asset Management LLC reduced its position in shares of Autoliv, Inc. (NYSE:ALV - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,000 shares of the auto parts company's stock after selling 2,700 shares during the period. Todd Asset Management LLC's holdings in Autoliv were worth $3,096,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SouthState Corp purchased a new stake in Autoliv in the first quarter valued at $25,000. GAMMA Investing LLC lifted its position in Autoliv by 122.9% in the first quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock valued at $33,000 after acquiring an additional 204 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Autoliv in the first quarter valued at $44,000. Signaturefd LLC lifted its position in Autoliv by 63.4% in the first quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock valued at $60,000 after acquiring an additional 263 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Autoliv by 188.6% in the first quarter. UMB Bank n.a. now owns 788 shares of the auto parts company's stock valued at $70,000 after acquiring an additional 515 shares during the last quarter. 69.57% of the stock is owned by hedge funds and other institutional investors.

Autoliv Stock Performance

Shares of Autoliv stock traded down $0.57 on Friday, reaching $118.37. 451,045 shares of the stock were exchanged, compared to its average volume of 734,631. Autoliv, Inc. has a 1-year low of $75.49 and a 1-year high of $119.53. The company has a current ratio of 0.93, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average price of $113.60 and a two-hundred day moving average price of $100.72. The firm has a market capitalization of $9.09 billion, a PE ratio of 12.95, a PEG ratio of 1.23 and a beta of 1.39.

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 for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the business posted $1.87 earnings per share. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Autoliv, Inc. will post 9.51 earnings per share for the current fiscal year.

Autoliv declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 4th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the auto parts company to repurchase up to 31.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Autoliv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders 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 is an increase from Autoliv's previous quarterly dividend of $0.70. This represents a $3.40 annualized dividend and a yield of 2.9%. Autoliv's dividend payout ratio (DPR) is currently 37.20%.

Insiders Place Their Bets

In other Autoliv news, Director Jan Carlson sold 1,555 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $108.32, for a total transaction of $168,437.60. Following the transaction, the director directly 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. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALV. Barclays reissued an "overweight" rating and issued a $135.00 price target (up from $105.00) on shares of Autoliv in a research report on Wednesday, July 16th. BNP Paribas Exane raised shares of Autoliv from a "neutral" rating to an "outperform" rating and set a $123.00 target price for the company in a report on Friday, May 9th. Wells Fargo & Company upped their target price on shares of Autoliv from $100.00 to $104.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. BNP Paribas raised shares of Autoliv from a "hold" rating to a "strong-buy" rating in a report on Friday, May 9th. Finally, Jefferies Financial Group assumed coverage on shares of Autoliv in a report on Wednesday, July 2nd. They issued a "buy" rating and a $140.00 target price for the company. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.64.

Autoliv Company 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.