12,780 Shares in Adient PLC (ADNT) Acquired by Water Island Capital LLC
Water Island Capital LLC acquired a new position in Adient PLC (NYSE:ADNT) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 12,780 shares of the company’s stock, valued at approximately $764,000.
Several other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Adient by 2.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 38,993 shares of the company’s stock worth $2,330,000 after buying an additional 967 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Adient by 1.7% in the 1st quarter. Baird Financial Group Inc. now owns 58,596 shares of the company’s stock valued at $3,502,000 after purchasing an additional 993 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Adient by 0.3% in the 1st quarter. New York State Common Retirement Fund now owns 345,577 shares of the company’s stock valued at $20,652,000 after purchasing an additional 1,147 shares in the last quarter. Brinker Capital Inc. lifted its holdings in Adient by 20.6% in the 1st quarter. Brinker Capital Inc. now owns 7,473 shares of the company’s stock valued at $447,000 after purchasing an additional 1,274 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in Adient by 18.4% in the 1st quarter. D.A. Davidson & CO. now owns 8,802 shares of the company’s stock valued at $526,000 after purchasing an additional 1,370 shares in the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.
ADNT has been the topic of a number of recent research reports. Susquehanna Bancshares set a $60.00 target price on shares of Adient and gave the company a “hold” rating in a report on Wednesday, March 14th. Morgan Stanley upped their target price on shares of Adient from $75.00 to $81.00 and gave the company an “overweight” rating in a report on Thursday, March 22nd. ValuEngine lowered shares of Adient from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Royal Bank of Canada restated a “hold” rating and issued a $72.00 target price on shares of Adient in a report on Monday, April 16th. Finally, Zacks Investment Research upgraded shares of Adient from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $69.92.
Adient (NYSE:ADNT) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $1.85 EPS for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($0.04). Adient had a net margin of 0.98% and a return on equity of 16.65%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period in the prior year, the company earned $2.50 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. analysts expect that Adient PLC will post 7.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Wednesday, July 18th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, July 17th. Adient’s dividend payout ratio is currently 11.76%.
Adient Company Profile
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.
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