Assenagon Asset Management S.A. Grows Stock Position in Adient $ADNT

Assenagon Asset Management S.A. increased its stake in shares of Adient (NYSE:ADNT) by 921.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 812,329 shares of the company’s stock after acquiring an additional 732,837 shares during the period. Assenagon Asset Management S.A. owned about 1.00% of Adient worth $19,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ADNT. Corient Private Wealth LLC purchased a new stake in Adient in the 2nd quarter worth approximately $325,000. Texas Permanent School Fund Corp lifted its stake in shares of Adient by 241.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 146,486 shares of the company’s stock valued at $2,851,000 after purchasing an additional 103,603 shares during the period. Squarepoint Ops LLC boosted its holdings in Adient by 558.3% during the second quarter. Squarepoint Ops LLC now owns 225,612 shares of the company’s stock worth $4,390,000 after buying an additional 191,341 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Adient by 106.3% during the second quarter. Thrivent Financial for Lutherans now owns 129,076 shares of the company’s stock worth $2,512,000 after buying an additional 66,495 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in Adient by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 286,382 shares of the company’s stock valued at $5,573,000 after buying an additional 20,246 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adient

In other news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $19.71, for a total value of $49,275.00. Following the completion of the sale, the executive vice president directly owned 116,425 shares in the company, valued at $2,294,736.75. This represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

Adient Stock Up 1.1%

NYSE ADNT opened at $19.56 on Friday. The business has a fifty day moving average price of $20.71 and a 200 day moving average price of $21.79. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.93 and a current ratio of 1.12. The company has a market cap of $1.55 billion, a P/E ratio of -5.86, a P/E/G ratio of 0.64 and a beta of 1.63. Adient has a one year low of $10.04 and a one year high of $26.16.

Adient (NYSE:ADNT) last announced its earnings results on Wednesday, May 31st. The company reported ($0.13) earnings per share (EPS) for the quarter. The business had revenue of $3.51 billion for the quarter. Adient had a positive return on equity of 7.81% and a negative net margin of 1.93%. Research analysts anticipate that Adient will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ADNT shares. Bank of America increased their price target on Adient from $17.50 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 10th. Morgan Stanley raised Adient from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $17.00 to $20.00 in a research note on Monday, December 8th. JPMorgan Chase & Co. decreased their target price on Adient from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Barclays cut their price target on shares of Adient from $27.00 to $24.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Finally, Stifel Nicolaus reduced their price objective on shares of Adient from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.06.

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.