Pzena Investment Management LLC Has $88.85 Million Holdings in Adient $ADNT

Pzena Investment Management LLC cut its position in shares of Adient (NYSE:ADNT) by 11.6% in the third quarter, Holdings Channel reports. The firm owned 3,689,680 shares of the company’s stock after selling 484,813 shares during the period. Pzena Investment Management LLC’s holdings in Adient were worth $88,847,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its holdings in Adient by 441.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 69,085 shares of the company’s stock valued at $1,664,000 after buying an additional 56,316 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Adient by 439.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,171,695 shares of the company’s stock worth $22,801,000 after purchasing an additional 954,441 shares during the last quarter. Texas Permanent School Fund Corp increased its position in shares of Adient by 241.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 146,486 shares of the company’s stock worth $2,851,000 after purchasing an additional 103,603 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Adient by 921.9% in the third quarter. Assenagon Asset Management S.A. now owns 812,329 shares of the company’s stock valued at $19,561,000 after acquiring an additional 732,837 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in Adient by 257.4% during the 2nd quarter. Intech Investment Management LLC now owns 170,252 shares of the company’s stock valued at $3,313,000 after purchasing an additional 122,610 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Adient

In related news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the stock in a transaction 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 sale, the executive vice president owned 116,425 shares in the company, valued at approximately $2,294,736.75. This represents a 2.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ADNT shares. Morgan Stanley lifted their target price on Adient from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Citigroup upped their target price on shares of Adient from $22.50 to $30.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Barclays raised their price target on Adient from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Adient from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Thursday, February 5th. Finally, UBS Group raised their target price on Adient from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.44.

Adient Stock Performance

Shares of ADNT opened at $25.69 on Thursday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -7.10, a PEG ratio of 0.68 and a beta of 1.61. Adient has a 12 month low of $10.04 and a 12 month high of $27.32. The firm has a fifty day simple moving average of $21.64 and a 200 day simple moving average of $22.29. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.17.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.19 by $0.16. The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. Research analysts forecast that Adient will post 1.76 EPS for the current fiscal year.

Adient Company 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.