Adient $ADNT Position Trimmed by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its holdings in shares of Adient (NYSE:ADNT) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,736,939 shares of the company’s stock after selling 34,087 shares during the quarter. Pzena Investment Management LLC’s holdings in Adient were worth $62,930,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ADNT. Integrated Wealth Concepts LLC purchased a new stake in shares of Adient during the second quarter worth approximately $27,000. Farther Finance Advisors LLC raised its position in Adient by 126.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,838 shares of the company’s stock worth $31,000 after buying an additional 1,026 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Adient by 19.4% in the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock worth $64,000 after acquiring an additional 517 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Adient in the 2nd quarter worth $94,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Adient by 10.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock valued at $152,000 after acquiring an additional 705 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Trending Headlines about Adient

Here are the key news stories impacting Adient this week:

• Positive Sentiment: Adient reported $222 million in full-year free cash flow, a potentially supportive sign for liquidity and capital returns. Revenue for the quarter was $3.73 billion, above analysts’ $3.60 billion estimate, and rose 1.1% year over year. Adient fourth-quarter and full-year results
• Positive Sentiment: The board increased the share repurchase authorization by $400 million, creating additional capacity for potential buybacks. The company also adopted a plan intended to protect its U.S. tax benefits. The authorization does not guarantee that shares will be repurchased. Repurchase authorization and tax benefits plan
• Negative Sentiment: Quarterly earnings were $0.52 per share, below estimates of roughly $0.63–$0.65 and unchanged from a year earlier. One report said Adient posted a $47 million quarterly loss as restructuring costs increased, weighing on the headline results. Adient fourth-quarter earnings miss Quarterly loss and restructuring costs

Adient Stock Up 1.5%

Shares of NYSE ADNT opened at $17.17 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. Adient has a 52 week low of $15.80 and a 52 week high of $27.32. The firm has a 50-day moving average price of $17.85 and a 200 day moving average price of $20.50. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 0.23 and a beta of 1.64.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Adient had a return on equity of 7.32% and a net margin of 0.32%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that Adient will post 1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADNT has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Adient from $33.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings lowered Adient from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $28.00 target price on shares of Adient in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised Adient from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $28.00 to $25.00 in a research note on Tuesday, September 15th. Finally, UBS Group reduced their price target on Adient from $29.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.90.

Insider Activity at Adient

In related news, Director Peter Carlin sold 7,843 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total value of $150,977.75. Following the sale, the director owned 38,835 shares in the company, valued at $747,573.75. This represents a 16.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.94% of the stock is owned by company insiders.

Adient Company Profile

Adient plc (NYSE: ADNT) is a global automotive supplier specializing in the design, development and manufacture of vehicle seating systems. The company supplies complete seating assemblies as well as components such as seat structures, mechanisms, foam, fabrics, leather and other trim materials.

Adient works with automakers and other automotive customers to provide seating solutions for passenger cars, trucks, sport utility vehicles and commercial vehicles. Its offerings are designed to support vehicle comfort, safety, styling, weight reduction and manufacturing efficiency, with products developed for both traditional and electrified vehicles.

The company was formed in 2016 through the separation of Johnson Controls’ automotive seating business.