Towle & Co. Has $5.22 Million Position in Adient $ADNT

Towle & Co. cut its holdings in Adient (NYSE:ADNT) by 39.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 258,104 shares of the company’s stock after selling 167,064 shares during the period. Adient comprises approximately 2.0% of Towle & Co.’s holdings, making the stock its 29th largest position. Towle & Co.’s holdings in Adient were worth $5,216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ADNT. Leonteq Securities AG acquired a new stake in Adient during the fourth quarter worth approximately $30,000. Quarry LP lifted its stake in Adient by 163.9% in the third quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after buying an additional 1,431 shares during the period. Raymond James Financial Inc. bought a new position in shares of Adient during the 2nd quarter worth approximately $63,000. Parallel Advisors LLC grew its position in shares of Adient by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock worth $64,000 after buying an additional 517 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Adient in the 4th quarter valued at $64,000. Institutional investors own 92.44% of the company’s stock.

Insider Buying and Selling at Adient

In other news, EVP Heather M. Tiltmann sold 22,000 shares of Adient stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total transaction of $499,620.00. Following the completion of the transaction, the executive vice president directly owned 110,886 shares in the company, valued at $2,518,221.06. This trade represents a 16.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ADNT shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Adient from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. UBS Group upped their price objective on shares of Adient from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. cut their price objective on shares of Adient from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Citigroup upgraded Adient from a “neutral” rating to a “buy” rating and raised their target price for the company from $30.00 to $33.00 in a research note on Wednesday, April 15th. Finally, Stifel Nicolaus decreased their target price on Adient from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $28.11.

Adient Price Performance

Shares of ADNT opened at $20.16 on Friday. Adient has a 12-month low of $17.68 and a 12-month high of $27.32. The business’s fifty day moving average is $20.79 and its 200 day moving average is $21.58. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. The stock has a market cap of $1.58 billion, a P/E ratio of 28.39, a P/E/G ratio of 0.40 and a beta of 1.53.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.62 billion. Adient had a net margin of 0.39% and a return on equity of 7.28%. Adient’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. Sell-side analysts anticipate that Adient will post 2.13 earnings per share for the current fiscal year.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.