Pzena Investment Management LLC Lowers Holdings in Adient $ADNT

Pzena Investment Management LLC trimmed its stake in Adient (NYSE:ADNT) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,635,297 shares of the company’s stock after selling 41,773 shares during the quarter. Pzena Investment Management LLC owned 4.64% of Adient worth $73,469,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position in shares of Adient by 61.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,890,233 shares of the company’s stock worth $45,517,000 after purchasing an additional 718,538 shares during the last quarter. SG Americas Securities LLC grew its position in Adient by 117.8% during the 1st quarter. SG Americas Securities LLC now owns 913,585 shares of the company’s stock valued at $18,464,000 after purchasing an additional 494,054 shares during the last quarter. Engineers Gate Manager LP increased its stake in Adient by 311.5% during the 4th quarter. Engineers Gate Manager LP now owns 636,138 shares of the company’s stock valued at $12,195,000 after purchasing an additional 481,538 shares in the last quarter. Invesco Ltd. increased its stake in Adient by 38.6% during the 4th quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock valued at $30,671,000 after purchasing an additional 445,343 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Adient by 143.3% in the second quarter. AQR Capital Management LLC now owns 581,242 shares of the company’s stock worth $11,276,000 after buying an additional 342,329 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADNT. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $31.00 price target on shares of Adient in a report on Thursday, May 7th. Weiss Ratings raised Adient from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Stifel Nicolaus set a $28.00 price objective on Adient in a research report on Thursday, May 7th. Citigroup upgraded Adient from a “neutral” rating to a “buy” rating and increased their target price for the company from $30.00 to $33.00 in a research note on Wednesday, April 15th. Finally, Barclays boosted their price target on Adient from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.44.

Insider Activity

In related news, EVP Heather M. Tiltmann sold 22,000 shares of Adient stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total value of $499,620.00. Following the completion of the sale, the executive vice president owned 110,886 shares of the company’s stock, valued at $2,518,221.06. The trade was a 16.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.94% of the stock is currently owned by company insiders.

Adient Stock Performance

Shares of ADNT stock opened at $18.14 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. The company has a 50 day moving average price of $21.49 and a 200-day moving average price of $21.54. Adient has a 52 week low of $17.68 and a 52 week high of $27.32. The firm has a market capitalization of $1.42 billion, a PE ratio of 25.54, a P/E/G ratio of 0.36 and a beta of 1.53.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Adient had a net margin of 0.39% and a return on equity of 7.28%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts expect that Adient will post 2.1 earnings per share for the current year.

Adient 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.