Arrowstreet Capital Limited Partnership Grows Position in Adient $ADNT

Arrowstreet Capital Limited Partnership lifted its position in Adient (NYSE:ADNT) by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,293,353 shares of the company’s stock after purchasing an additional 336,306 shares during the period. Arrowstreet Capital Limited Partnership owned about 2.92% of Adient worth $46,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of 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 acquiring an additional 494,054 shares during the period. Engineers Gate Manager LP raised its holdings in Adient by 311.5% in the 4th quarter. Engineers Gate Manager LP now owns 636,138 shares of the company’s stock worth $12,195,000 after purchasing an additional 481,538 shares during the period. Invesco Ltd. boosted its position in Adient by 38.6% during the fourth quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock worth $30,671,000 after purchasing an additional 445,343 shares in the last quarter. AQR Capital Management LLC boosted its position in Adient by 143.3% during the second quarter. AQR Capital Management LLC now owns 581,242 shares of the company’s stock worth $11,276,000 after purchasing an additional 342,329 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Adient by 8.5% in the third quarter. Dimensional Fund Advisors LP now owns 4,215,764 shares of the company’s stock valued at $101,517,000 after purchasing an additional 328,555 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Price Performance

Adient stock opened at $20.75 on Tuesday. The company has a fifty day simple moving average of $20.78 and a 200-day simple moving average of $21.59. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 0.39 and a beta of 1.53. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. Adient has a 52-week low of $17.68 and a 52-week high of $27.32.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.62 billion. Adient had a net margin of 0.39% and a return on equity of 7.28%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.69 earnings per share. On average, equities analysts anticipate that Adient will post 2.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADNT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Adient from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Stifel Nicolaus cut their target price on shares of Adient from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, July 20th. UBS Group raised their price target on shares of Adient from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Wells Fargo & Company lifted their price objective on Adient from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Finally, Citigroup upgraded Adient from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $33.00 in a research note on Wednesday, April 15th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Adient has a consensus rating of “Hold” and a consensus price target of $28.11.

Insider Activity

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the stock in a transaction that occurred 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 approximately $2,518,221.06. This trade represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.94% of the stock is owned by company insiders.

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.