Nisa Investment Advisors LLC Trims Stock Holdings in Adient (NYSE:ADNT)

Nisa Investment Advisors LLC lowered its position in Adient (NYSE:ADNT) by 45.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,077 shares of the company’s stock after selling 2,611 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Adient were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Adient by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 25,838 shares of the company’s stock valued at $445,000 after purchasing an additional 4,861 shares during the period. Intech Investment Management LLC increased its holdings in shares of Adient by 7.9% in the fourth quarter. Intech Investment Management LLC now owns 34,673 shares of the company’s stock valued at $597,000 after purchasing an additional 2,529 shares during the period. Xponance Inc. increased its holdings in shares of Adient by 17.1% in the fourth quarter. Xponance Inc. now owns 15,992 shares of the company’s stock valued at $276,000 after purchasing an additional 2,331 shares during the period. Semanteon Capital Management LP increased its holdings in shares of Adient by 17.2% in the fourth quarter. Semanteon Capital Management LP now owns 30,241 shares of the company’s stock valued at $521,000 after purchasing an additional 4,435 shares during the period. Finally, Quantbot Technologies LP increased its holdings in shares of Adient by 263.6% in the fourth quarter. Quantbot Technologies LP now owns 80,294 shares of the company’s stock valued at $1,383,000 after purchasing an additional 58,209 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Stock Down 1.4%

Shares of NYSE:ADNT opened at $21.75 on Friday. The stock’s 50-day moving average price is $18.46 and its two-hundred day moving average price is $16.05. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -6.80, a PEG ratio of 0.66 and a beta of 1.69. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. Adient has a 12-month low of $10.04 and a 12-month high of $26.59.

Adient (NYSE:ADNT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.33. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. Adient had a positive return on equity of 7.70% and a negative net margin of 1.86%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. On average, research analysts forecast that Adient will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ADNT. Citigroup began coverage on Adient in a report on Wednesday, April 23rd. They set a “neutral” rating and a $14.00 price objective on the stock. Bank of America upped their price objective on Adient from $15.00 to $17.50 and gave the stock an “underperform” rating in a report on Monday, June 16th. Morgan Stanley lowered their target price on Adient from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Monday, May 19th. Wall Street Zen raised Adient from a “hold” rating to a “buy” rating in a report on Friday. Finally, UBS Group upped their target price on Adient from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.06.

About Adient

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.