Strs Ohio Acquires New Holdings in Adient $ADNT

Key Points

• Strs Ohio has purchased 45,500 shares of Adient, a move valued at approximately $585,000, increasing its stake to 0.05% in the company.
• Adient reported a net loss margin of 1.53% in its last quarterly earnings and missed earnings per share estimates by $0.02.
• Various institutional investors, including Vanguard Group and Jump Financial, are actively increasing their investments in Adient, with a total of 92.44% of shares now owned by these investors.

Strs Ohio purchased a new stake in Adient (NYSE:ADNT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 45,500 shares of the company's stock, valued at approximately $585,000. Strs Ohio owned approximately 0.05% of Adient as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ADNT. HITE Hedge Asset Management LLC boosted its holdings in Adient by 184.2% during the first quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company's stock worth $29,837,000 after buying an additional 1,503,817 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Adient by 22.4% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 4,500,736 shares of the company's stock valued at $57,879,000 after purchasing an additional 823,638 shares in the last quarter. Millennium Management LLC lifted its holdings in Adient by 2,039.0% during the fourth quarter. Millennium Management LLC now owns 610,312 shares of the company's stock valued at $10,516,000 after purchasing an additional 581,779 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Adient by 68,173.6% during the first quarter. Federated Hermes Inc. now owns 524,341 shares of the company's stock valued at $6,743,000 after purchasing an additional 523,573 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in Adient during the first quarter valued at $6,022,000. Institutional investors own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ADNT shares. Wells Fargo & Company increased their target price on shares of Adient from $18.00 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Cfra Research upgraded shares of Adient from a "moderate sell" rating to a "hold" rating in a research report on Thursday, August 7th. Zacks Research cut shares of Adient from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. UBS Group increased their target price on shares of Adient from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Adient from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $21.75.

Adient Trading Up 1.5%

Shares of ADNT stock traded up $0.38 during trading hours on Tuesday, hitting $24.95. 344,272 shares of the company were exchanged, compared to its average volume of 1,396,710. Adient has a 1 year low of $10.04 and a 1 year high of $25.84. The firm has a fifty day moving average of $23.45 and a 200 day moving average of $18.20. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.15. The firm has a market cap of $2.03 billion, a PE ratio of -9.41, a PEG ratio of 0.94 and a beta of 1.76.

Adient (NYSE:ADNT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The business had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.56 billion. Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The company's quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. Analysts expect that Adient will post 1.76 earnings per share for the current year.

About Adient

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.