HITE Hedge Asset Management LLC Invests $10.91 Million in Autoliv, Inc. (NYSE:ALV)

HITE Hedge Asset Management LLC acquired a new stake in shares of Autoliv, Inc. (NYSE:ALV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 101,934 shares of the auto parts company’s stock, valued at approximately $10,906,000. Autoliv accounts for about 1.0% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 24th largest holding. HITE Hedge Asset Management LLC owned about 0.13% of Autoliv as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Silvercrest Asset Management Group LLC grew its holdings in Autoliv by 96.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 28,682 shares of the auto parts company’s stock valued at $3,454,000 after purchasing an additional 14,074 shares during the period. Park West Asset Management LLC grew its stake in shares of Autoliv by 37.8% during the 4th quarter. Park West Asset Management LLC now owns 427,060 shares of the auto parts company’s stock valued at $47,058,000 after acquiring an additional 117,060 shares during the period. M&G Plc purchased a new stake in Autoliv in the 1st quarter worth approximately $1,431,000. Qsemble Capital Management LP bought a new stake in Autoliv during the 1st quarter worth approximately $808,000. Finally, Swedbank AB lifted its holdings in Autoliv by 20.5% during the second quarter. Swedbank AB now owns 2,362,040 shares of the auto parts company’s stock valued at $252,715,000 after purchasing an additional 402,426 shares in the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

Autoliv Stock Performance

Shares of NYSE:ALV opened at $93.10 on Wednesday. The firm has a fifty day simple moving average of $98.30 and a two-hundred day simple moving average of $110.94. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $7.58 billion, a P/E ratio of 14.52, a PEG ratio of 0.65 and a beta of 1.60. Autoliv, Inc. has a 52 week low of $89.37 and a 52 week high of $129.38.

Autoliv (NYSE:ALV) last issued its quarterly earnings data on Friday, July 19th. The auto parts company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Autoliv had a return on equity of 30.05% and a net margin of 5.91%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the firm earned $1.93 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that Autoliv, Inc. will post 9.05 earnings per share for the current fiscal year.

Autoliv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Wednesday, September 4th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.72 annualized dividend and a yield of 2.92%. Autoliv’s payout ratio is presently 42.43%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALV. Wells Fargo & Company reduced their price objective on shares of Autoliv from $103.00 to $102.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. StockNews.com cut Autoliv from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 13th. Barclays dropped their price objective on Autoliv from $125.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Bank of America decreased their target price on Autoliv from $145.00 to $133.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, HSBC assumed coverage on Autoliv in a research note on Monday, July 15th. They issued a “buy” rating and a $134.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.71.

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.