ARP Americas LP bought a new position in Autoliv Inc. (NYSE:ALV) during the first quarter, HoldingsChannel reports. The fund bought 4,825 shares of the auto parts company’s stock, valued at approximately $355,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC bought a new position in shares of Autoliv in the first quarter worth about $5,709,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Autoliv by 91.1% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 56,441 shares of the auto parts company’s stock worth $4,150,000 after buying an additional 26,909 shares during the period. Murphy Pohlad Asset Management LLC raised its stake in shares of Autoliv by 9.3% in the first quarter. Murphy Pohlad Asset Management LLC now owns 41,245 shares of the auto parts company’s stock worth $3,032,000 after buying an additional 3,520 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Autoliv by 3.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,251 shares of the auto parts company’s stock worth $901,000 after buying an additional 441 shares during the period. Finally, Eagle Ridge Investment Management raised its stake in shares of Autoliv by 1.9% in the first quarter. Eagle Ridge Investment Management now owns 67,411 shares of the auto parts company’s stock worth $4,957,000 after buying an additional 1,258 shares during the period. 34.55% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Autoliv from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Barclays restated a “sell” rating and set a $57.00 price target on shares of Autoliv in a report on Sunday, March 31st. BMO Capital Markets restated a “hold” rating and set a $79.00 price target on shares of Autoliv in a report on Wednesday, January 30th. Longbow Research reiterated a “hold” rating on shares of Autoliv in a report on Wednesday, January 30th. Finally, Royal Bank of Canada cut Autoliv from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $74.00 to $70.00 in a report on Friday, April 5th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $89.96.
Autoliv (NYSE:ALV) last issued its earnings results on Friday, April 26th. The auto parts company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). Autoliv had a return on equity of 27.29% and a net margin of 2.03%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the company earned $1.66 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, research analysts predict that Autoliv Inc. will post 6.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Wednesday, August 21st will be issued a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.48 dividend on an annualized basis and a yield of 3.76%. Autoliv’s payout ratio is 36.31%.
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Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies automotive safety systems to the automotive industry. The company offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, battery cable cutters, pedestrian protection systems, and child seats.
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