Rhumbline Advisers Trims Stake in Adient $ADNT

Rhumbline Advisers lowered its stake in Adient (NYSE:ADNT) by 4.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 262,717 shares of the company’s stock after selling 13,458 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of Adient worth $3,379,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Adient by 22.4% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 4,500,736 shares of the company’s stock worth $57,879,000 after purchasing an additional 823,638 shares during the period. Pzena Investment Management LLC increased its holdings in Adient by 7.5% in the 1st quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company’s stock valued at $50,174,000 after purchasing an additional 272,121 shares in the last quarter. Vanguard Group Inc. increased its holdings in Adient by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company’s stock valued at $44,820,000 after purchasing an additional 53,101 shares in the last quarter. HITE Hedge Asset Management LLC increased its holdings in Adient by 184.2% in the 1st quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company’s stock valued at $29,837,000 after purchasing an additional 1,503,817 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Adient by 14.2% during the first quarter. Invesco Ltd. now owns 1,615,317 shares of the company’s stock valued at $20,773,000 after acquiring an additional 201,276 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Trading Up 0.8%

Adient stock opened at $24.19 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -9.13, a price-to-earnings-growth ratio of 0.92 and a beta of 1.76. Adient has a 1 year low of $10.04 and a 1 year high of $25.84. The firm’s 50 day moving average price is $23.26 and its two-hundred day moving average price is $17.86.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.56 billion. Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%.The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. On average, research analysts predict that Adient will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADNT has been the subject of several recent analyst reports. Bank of America raised their target price on Adient from $17.50 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, September 10th. Morgan Stanley increased their price target on shares of Adient from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 12th. Cfra Research raised shares of Adient from a “moderate sell” rating to a “hold” rating in a research report on Thursday, August 7th. Stifel Nicolaus started coverage on shares of Adient in a research report on Thursday, August 21st. They set a “buy” rating and a $27.00 price target on the stock. Finally, Wells Fargo & Company raised their target price on shares of Adient from $18.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $21.75.

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.