Retirement Systems of Alabama Sells 78,341 Shares of Adient plc (NYSE:ADNT)

Retirement Systems of Alabama lowered its position in shares of Adient plc (NYSE:ADNT) by 40.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,300 shares of the company’s stock after selling 78,341 shares during the quarter. Retirement Systems of Alabama’s holdings in Adient were worth $4,265,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADNT. Headlands Technologies LLC purchased a new stake in Adient during the third quarter worth about $46,000. AM Squared Ltd purchased a new position in Adient in the third quarter valued at about $106,000. Dark Forest Capital Management LP bought a new position in shares of Adient during the 3rd quarter valued at approximately $205,000. Handelsinvest Investeringsforvaltning purchased a new stake in shares of Adient during the 4th quarter worth approximately $207,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Adient by 20.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,743 shares of the company’s stock worth $211,000 after purchasing an additional 962 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Price Performance

Adient stock opened at $28.12 on Tuesday. Adient plc has a one year low of $26.97 and a one year high of $46.51. The business has a fifty day moving average price of $31.70 and a 200-day moving average price of $33.24. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91. The firm has a market capitalization of $2.57 billion, a P/E ratio of 17.25, a PEG ratio of 0.29 and a beta of 2.39.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. Adient had a return on equity of 8.72% and a net margin of 1.04%. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Adient plc will post 2.53 EPS for the current year.

Insider Buying and Selling

In related news, EVP Heather M. Tiltmann sold 10,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total value of $336,800.00. Following the sale, the executive vice president now owns 55,669 shares in the company, valued at $1,874,931.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADNT has been the subject of a number of recent research reports. Barclays reissued an “equal weight” rating and issued a $37.00 target price (down from $41.00) on shares of Adient in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on Adient from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday. JPMorgan Chase & Co. dropped their price objective on shares of Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company reduced their target price on shares of Adient from $38.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Bank of America dropped their price target on shares of Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.00.

Adient Profile

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.