Autoliv (NYSE:ALV) Shares Gap Up After Dividend Announcement

Autoliv, Inc. (NYSE:ALV)’s share price gapped up prior to trading on Wednesday following a dividend announcement from the company. The stock had previously closed at $102.68, but opened at $106.01. Autoliv shares last traded at $102.19, with a volume of 235,264 shares.

The newly announced dividend which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a $0.85 dividend. This is a boost from Autoliv’s previous quarterly dividend of $0.70. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.29%. Autoliv’s dividend payout ratio (DPR) is presently 32.22%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. BNP Paribas Exane upgraded Autoliv from a “neutral” rating to an “outperform” rating and set a $123.00 price target on the stock in a research note on Friday, May 9th. Barclays boosted their price target on Autoliv from $97.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. BNP Paribas upgraded Autoliv from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 9th. Robert W. Baird decreased their price objective on Autoliv from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Finally, UBS Group boosted their price objective on Autoliv from $103.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Autoliv Stock Up 0.8%

The business has a fifty day moving average of $92.83 and a two-hundred day moving average of $94.72. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.73 and a beta of 1.36.

Autoliv (NYSE:ALV) last posted its quarterly earnings data on Wednesday, April 16th. The auto parts company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.72 by $0.43. Autoliv had a return on equity of 28.62% and a net margin of 6.21%. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business earned $1.58 EPS. As a group, equities analysts anticipate that Autoliv, Inc. will post 9.51 EPS for the current fiscal year.

Autoliv announced that its board has approved 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 reacquire up to 31.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Autoliv

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SouthState Corp purchased a new position in Autoliv in the first quarter worth approximately $25,000. AlphaQuest LLC raised its stake in shares of Autoliv by 74.4% in the fourth quarter. AlphaQuest LLC now owns 314 shares of the auto parts company’s stock valued at $29,000 after acquiring an additional 134 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of 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 in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Autoliv in the first quarter valued at $44,000. Finally, Twin Tree Management LP acquired a new stake in shares of Autoliv in the fourth quarter valued at $50,000. Institutional investors and hedge funds own 69.57% of the company’s stock.

About Autoliv

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.