Bank of New York Mellon Corp Cuts Stock Position in Autoliv, Inc. $ALV

Bank of New York Mellon Corp cut its stake in Autoliv, Inc. (NYSE:ALV) by 5.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 375,973 shares of the auto parts company’s stock after selling 23,086 shares during the period. Bank of New York Mellon Corp owned about 0.49% of Autoliv worth $42,071,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. M&T Bank Corp purchased a new position in Autoliv during the 1st quarter worth approximately $206,000. Nisa Investment Advisors LLC grew its position in Autoliv by 51.2% during the first quarter. Nisa Investment Advisors LLC now owns 6,525 shares of the auto parts company’s stock worth $577,000 after buying an additional 2,210 shares during the period. CWM LLC grew its holdings in shares of Autoliv by 22.1% in the 1st quarter. CWM LLC now owns 1,027 shares of the auto parts company’s stock worth $91,000 after acquiring an additional 186 shares during the period. Signaturefd LLC raised its stake in shares of Autoliv by 63.4% during the 1st quarter. Signaturefd LLC now owns 678 shares of the auto parts company’s stock worth $60,000 after buying an additional 263 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Autoliv by 13.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 793,306 shares of the auto parts company’s stock valued at $70,168,000 after purchasing an additional 91,312 shares in the last quarter. 69.57% of the stock is owned by hedge funds and other institutional investors.

Autoliv Stock Up 1.0%

Shares of ALV stock opened at $124.41 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 0.95. Autoliv, Inc. has a twelve month low of $75.49 and a twelve month high of $129.54. The stock’s 50 day simple moving average is $122.06 and its 200 day simple moving average is $114.47. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.88 and a beta of 1.35.

Autoliv (NYSE:ALV) last released its earnings results on Friday, October 17th. The auto parts company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.10 by $0.22. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Autoliv had a net margin of 7.09% and a return on equity of 31.22%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.84 EPS. As a group, research analysts predict that Autoliv, Inc. will post 9.51 EPS for the current year.

Autoliv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Autoliv’s previous quarterly dividend of $0.85. Autoliv’s payout ratio is 35.12%.

Wall Street Analyst Weigh In

ALV has been the topic of a number of analyst reports. Berenberg Bank set a $134.00 target price on shares of Autoliv in a research report on Tuesday, October 21st. Mizuho increased their price objective on shares of Autoliv from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Robert W. Baird lowered their target price on Autoliv from $135.00 to $133.00 and set a “neutral” rating for the company in a research note on Monday, October 20th. Barclays lifted their price target on Autoliv from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Autoliv in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.00.

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.