Adient $ADNT Stock Position Trimmed by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd lessened its holdings in Adient (NYSE:ADNT) by 49.1% in the first quarter, Holdings Channel reports. The firm owned 391,211 shares of the company’s stock after selling 377,200 shares during the period. Adient accounts for 4.3% of Quantedge Capital Pte Ltd’s investment portfolio, making the stock its 5th largest holding. Quantedge Capital Pte Ltd’s holdings in Adient were worth $7,906,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Parallel Advisors LLC boosted its holdings in shares of Adient by 19.4% in the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock worth $64,000 after buying an additional 517 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Adient by 10.3% during the first quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock worth $152,000 after buying an additional 705 shares during the last quarter. GAMMA Investing LLC increased its holdings in Adient by 17.2% during the fourth quarter. GAMMA Investing LLC now owns 5,199 shares of the company’s stock worth $100,000 after buying an additional 764 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Adient by 9.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,162 shares of the company’s stock worth $193,000 after acquiring an additional 866 shares during the period. Finally, Corient Private Wealth LLC raised its position in Adient by 5.2% in the fourth quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock worth $347,000 after acquiring an additional 899 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Adient Trading Up 1.5%

Shares of Adient stock opened at $19.95 on Wednesday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 28.09, a P/E/G ratio of 0.38 and a beta of 1.53. Adient has a 52-week low of $17.68 and a 52-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 stock’s 50-day simple moving average is $20.86 and its 200 day simple moving average is $21.56.

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

Insider Activity at Adient

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 110,886 shares in the company, valued at approximately $2,518,221.06. This represents a 16.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADNT. Citigroup raised shares of Adient from a “neutral” rating to a “buy” rating and increased their target price for the company from $30.00 to $33.00 in a research report on Wednesday, April 15th. Weiss Ratings raised shares of Adient from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. UBS Group upped their price objective on 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 upped 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. Finally, Barclays increased their price objective on Adient from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adient presently has an average rating of “Hold” and a consensus price target of $28.11.

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.