Louisiana State Employees Retirement System Takes $701,000 Position in Adient $ADNT

Louisiana State Employees Retirement System purchased a new position in Adient (NYSE:ADNT) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 34,700 shares of the company’s stock, valued at approximately $701,000.

A number of other large investors have also recently added to or reduced their stakes in ADNT. SG Americas Securities LLC increased its position in shares of Adient by 117.8% in the 1st quarter. SG Americas Securities LLC now owns 913,585 shares of the company’s stock worth $18,464,000 after purchasing an additional 494,054 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Adient by 5.2% in the fourth quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock valued at $347,000 after buying an additional 899 shares during the last quarter. Invesco Ltd. lifted its holdings in Adient by 38.6% during the 4th quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock worth $30,671,000 after buying an additional 445,343 shares during the last quarter. Vident Advisory LLC grew its position in shares of Adient by 25.6% in the 4th quarter. Vident Advisory LLC now owns 34,794 shares of the company’s stock worth $667,000 after acquiring an additional 7,086 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Adient during the 4th quarter valued at approximately $605,000. 92.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ADNT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Adient from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. reduced their price target on shares of Adient from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Wells Fargo & Company increased their price objective on shares of Adient from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Weiss Ratings upgraded shares of Adient from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Finally, Citigroup raised Adient from a “neutral” rating to a “buy” rating and lifted their price target for the company from $30.00 to $33.00 in a report on Wednesday, April 15th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.22.

Insider Activity at Adient

In other news, EVP Heather M. Tiltmann sold 22,000 shares of Adient 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 completion of the transaction, the executive vice president directly owned 110,886 shares of the company’s stock, valued at $2,518,221.06. The trade was a 16.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is owned by insiders.

Adient Stock Performance

Shares of Adient stock traded up $0.61 during trading on Tuesday, hitting $19.38. 13,535 shares of the company’s stock were exchanged, compared to its average volume of 1,046,618. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 0.37 and a beta of 1.53. The business has a 50-day simple moving average of $21.32 and a 200-day simple moving average of $21.54. 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.

Adient (NYSE:ADNT) last announced 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 company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.62 billion. Adient had a return on equity of 7.28% and a net margin of 0.39%.The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. On average, research analysts forecast that Adient will post 2.1 EPS for the current 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.