Louisiana State Employees Retirement System Makes New $701,000 Investment in Adient $ADNT

Louisiana State Employees Retirement System purchased a new stake in Adient (NYSE:ADNT) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,700 shares of the company’s stock, valued at approximately $701,000.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Adient by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 4,684,882 shares of the company’s stock valued at $89,809,000 after buying an additional 208,938 shares during the period. Dimensional Fund Advisors LP increased its stake in Adient by 8.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,215,764 shares of the company’s stock worth $101,517,000 after buying an additional 328,555 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Adient by 61.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,890,233 shares of the company’s stock valued at $45,517,000 after purchasing an additional 718,538 shares during the period. UBS Group AG increased its stake in shares of Adient by 12.9% during the fourth quarter. UBS Group AG now owns 1,848,690 shares of the company’s stock worth $35,439,000 after buying an additional 210,758 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Adient by 38.6% during the 4th quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock worth $30,671,000 after purchasing an additional 445,343 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ADNT. JPMorgan Chase & Co. reduced their price target on shares of Adient from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Wells Fargo & Company raised their price objective on shares of Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Citigroup raised shares of Adient from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $33.00 in a report on Wednesday, April 15th. UBS Group lifted their price target on shares of Adient from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Barclays lifted their price objective on Adient from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.22.

Adient Trading Up 3.3%

Adient stock traded up $0.61 during trading on Tuesday, reaching $19.38. The company had a trading volume of 13,535 shares, compared to its average volume of 1,046,618. Adient has a 12-month low of $17.68 and a 12-month high of $27.32. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. The stock’s 50 day moving average price is $21.32 and its two-hundred day moving average price is $21.54. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 0.37 and a beta of 1.53.

Adient (NYSE:ADNT) last announced its quarterly earnings data 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 company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Adient had a net margin of 0.39% and a return on equity of 7.28%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 EPS. As a group, equities analysts expect that Adient will post 2.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adient news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total transaction of $499,620.00. Following the completion of the sale, the executive vice president owned 110,886 shares in the company, valued at $2,518,221.06. This trade represents a 16.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.94% of the company’s stock.

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.