Charles Schwab Investment Management Inc. Trims Stock Position in Adient $ADNT

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Adient (NYSE:ADNT) by 3.7% in the first quarter, currently holding 1,051,259 shares valued at approximately $13.52 million.
• Institutional investors own 92.44% of Adient's stock, with several hedge funds recently increasing their positions, including Northern Trust Corp and UBS AM.
• Adient's recent earnings report showed a miss on earnings per share estimates, reporting $0.45 against a consensus of $0.47, while revenues exceeded estimates at $3.74 billion.

Charles Schwab Investment Management Inc. reduced its position in Adient (NYSE:ADNT - Free Report) by 3.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,051,259 shares of the company's stock after selling 40,013 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.25% of Adient worth $13,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC raised its position in shares of Adient by 2,039.0% in the 4th quarter. Millennium Management LLC now owns 610,312 shares of the company's stock worth $10,516,000 after acquiring an additional 581,779 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Adient by 68,173.6% in the 1st quarter. Federated Hermes Inc. now owns 524,341 shares of the company's stock worth $6,743,000 after buying an additional 523,573 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Adient during the first quarter valued at $6,022,000. Pzena Investment Management LLC lifted its position in Adient by 7.5% during the first quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company's stock valued at $50,174,000 after purchasing an additional 272,121 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Adient by 805.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 285,844 shares of the company's stock valued at $4,925,000 after purchasing an additional 254,280 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Adient Stock Performance

Shares of NYSE ADNT traded down $0.51 during mid-day trading on Thursday, hitting $25.05. The stock had a trading volume of 688,193 shares, compared to its average volume of 1,428,168. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12. The company has a 50 day moving average of $22.19 and a two-hundred day moving average of $17.18. Adient has a twelve month low of $10.04 and a twelve month high of $25.84. The firm has a market cap of $2.04 billion, a PE ratio of -9.45, a PEG ratio of 0.83 and a beta of 1.72.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Zacks Research cut Adient from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Bank of America boosted their target price on Adient from $15.00 to $17.50 and gave the company an "underperform" rating in a research report on Monday, June 16th. Morgan Stanley boosted their target price on Adient from $16.00 to $17.00 and gave the company an "underweight" rating in a research report on Tuesday, August 12th. Barclays boosted their target price on Adient from $18.00 to $25.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company boosted their target price on Adient from $18.00 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $21.72.

Adient Profile

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.