Adient $ADNT Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its position in Adient (NYSE:ADNT) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,736,939 shares of the company’s stock after selling 34,087 shares during the quarter. Pzena Investment Management LLC owned 4.85% of Adient worth $62,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Adient by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock worth $88,614,000 after purchasing an additional 211,843 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Adient by 17.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock worth $46,349,000 after buying an additional 336,306 shares during the period. Bank of America Corp DE increased its stake in Adient by 61.7% during the 1st quarter. Bank of America Corp DE now owns 792,543 shares of the company’s stock worth $16,017,000 after buying an additional 302,538 shares during the period. Empowered Funds LLC lifted its holdings in Adient by 23.5% during the 1st quarter. Empowered Funds LLC now owns 554,572 shares of the company’s stock worth $11,208,000 after buying an additional 105,435 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Adient by 179.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 527,356 shares of the company’s stock worth $10,658,000 after acquiring an additional 338,517 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient News Roundup

Here are the key news stories impacting Adient this week:

• Positive Sentiment: Adient reported $222 million in full-year free cash flow, a potentially supportive sign for liquidity and capital returns. Revenue for the quarter was $3.73 billion, above analysts’ $3.60 billion estimate, and rose 1.1% year over year. Adient fourth-quarter and full-year results
• Positive Sentiment: The board increased the share repurchase authorization by $400 million, creating additional capacity for potential buybacks. The company also adopted a plan intended to protect its U.S. tax benefits. The authorization does not guarantee that shares will be repurchased. Repurchase authorization and tax benefits plan
• Negative Sentiment: Quarterly earnings were $0.52 per share, below estimates of roughly $0.63–$0.65 and unchanged from a year earlier. One report said Adient posted a $47 million quarterly loss as restructuring costs increased, weighing on the headline results. Adient fourth-quarter earnings miss Quarterly loss and restructuring costs

Adient Stock Up 1.5%

Shares of NYSE ADNT opened at $17.17 on Thursday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 0.23 and a beta of 1.64. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. The business has a 50-day moving average of $17.85 and a two-hundred day moving average of $20.50. Adient has a 1 year low of $15.80 and a 1 year high of $27.32.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Adient had a net margin of 0.32% and a return on equity of 7.32%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts forecast that Adient will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Peter Carlin sold 7,843 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total value of $150,977.75. Following the transaction, the director directly owned 38,835 shares of the company’s stock, valued at $747,573.75. This trade represents a 16.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Zacks Research upgraded Adient from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 16th. Citigroup cut their price target on Adient from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. JPMorgan Chase & Co. upgraded Adient from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $28.00 to $25.00 in a research note on Tuesday, September 15th. Weiss Ratings lowered shares of Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Finally, BNP Paribas Exane upgraded shares of Adient from a “neutral” rating to an “outperform” rating and set a $26.00 target price on the stock in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.90.

About Adient

Adient plc (NYSE: ADNT) is a global automotive supplier specializing in the design, development and manufacture of vehicle seating systems. The company supplies complete seating assemblies as well as components such as seat structures, mechanisms, foam, fabrics, leather and other trim materials.

Adient works with automakers and other automotive customers to provide seating solutions for passenger cars, trucks, sport utility vehicles and commercial vehicles. Its offerings are designed to support vehicle comfort, safety, styling, weight reduction and manufacturing efficiency, with products developed for both traditional and electrified vehicles.

The company was formed in 2016 through the separation of Johnson Controls’ automotive seating business.