Lombard Odier Asset Management USA Corp Purchases New Holdings in Adient $ADNT

Lombard Odier Asset Management USA Corp acquired a new position in shares of Adient (NYSE:ADNT) during the first quarter, HoldingsChannel reports. The fund acquired 27,223 shares of the company’s stock, valued at approximately $550,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada increased its holdings in Adient by 11.6% in the first quarter. Royal Bank of Canada now owns 22,429 shares of the company’s stock valued at $289,000 after buying an additional 2,331 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Adient by 171.1% in the 1st quarter. AQR Capital Management LLC now owns 238,913 shares of the company’s stock worth $2,977,000 after acquiring an additional 150,792 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Adient during the first quarter valued at approximately $236,000. First Trust Advisors LP boosted its holdings in Adient by 6.8% during the second quarter. First Trust Advisors LP now owns 273,823 shares of the company’s stock worth $5,329,000 after purchasing an additional 17,400 shares during the last quarter. Finally, Amundi acquired a new position in shares of Adient during the 2nd quarter worth approximately $269,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adient

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $22.71, for a total transaction of $499,620.00. Following the completion of the transaction, the executive vice president directly 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.94% of the company’s stock.

Adient Price Performance

Shares of NYSE:ADNT opened at $20.40 on Friday. Adient has a fifty-two week low of $17.68 and a fifty-two week high of $27.32. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. The business has a 50-day simple moving average of $20.78 and a two-hundred day simple moving average of $21.57. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 0.39 and a beta of 1.53.

Adient (NYSE:ADNT) last announced its earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Adient had a net margin of 0.39% and a return on equity of 7.28%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same period in the previous year, the business earned $0.69 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts expect that Adient will post 2.13 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Adient from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Wells Fargo & Company raised their price objective on Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Stifel Nicolaus decreased their price target on Adient from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on Adient from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Barclays boosted their price objective on shares of Adient from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Adient has a consensus rating of “Hold” and a consensus target price of $28.11.

About Adient

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.