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

by · The Markets Daily

Autoliv, Inc. (NYSE:ALV – Get Free Report)’s stock price gapped up prior to trading on Wednesday after the company announced a dividend. 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 changing hands.

The newly announced dividend which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be issued a dividend of $0.85 per share. This is a boost from Autoliv’s previous quarterly dividend of $0.70. This represents a $3.40 annualized dividend and a yield of 3.34%. Autoliv’s dividend payout ratio is currently 32.22%.

Wall Street Analyst Weigh In

Several brokerages have commented on ALV. UBS Group boosted their target price on shares of Autoliv from $103.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Barclays boosted their price target on Autoliv from $97.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Wall Street Zen raised shares of Autoliv from a “hold” rating to a “buy” rating in a research report on Thursday, April 17th. Wells Fargo & Company boosted their price objective on Autoliv from $82.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Finally, TD Cowen initiated coverage on Autoliv in a research note on Friday, March 7th. They issued a “buy” rating and a $116.00 target price on the stock. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Check Out Our Latest Report on Autoliv

Autoliv Stock Performance

The firm’s 50-day simple moving average is $92.55 and its two-hundred day simple moving average is $94.66. The stock has a market capitalization of $7.87 billion, a PE ratio of 12.69, a PEG ratio of 0.73 and a beta of 1.36. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67.

Autoliv (NYSE:ALV – Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The auto parts company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.43. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.50 billion. Autoliv had a return on equity of 28.62% and a net margin of 6.21%. During the same quarter in the prior year, the company posted $1.58 EPS. On average, equities research analysts expect that Autoliv, Inc. will post 9.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Autoliv

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SouthState Corp acquired a new stake in Autoliv during the first quarter worth $25,000. AlphaQuest LLC raised its position in Autoliv by 74.4% in the fourth quarter. AlphaQuest LLC now owns 314 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 134 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Autoliv by 122.9% during the 1st quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company’s stock worth $33,000 after buying an additional 204 shares during the period. FNY Investment Advisers LLC acquired a new stake in Autoliv in the 1st quarter valued at $44,000. Finally, Twin Tree Management LP bought a new stake in Autoliv in the fourth quarter valued at $50,000. 69.57% of the stock is currently owned by institutional investors.

About Autoliv

(Get Free Report)

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.

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