Adient $ADNT Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers has reduced its stake in Adient by 4.9%, resulting in ownership of 262,717 shares now valued at approximately $3.38 million.
• Other large investors have increased their positions in Adient, with Hotchkis & Wiley Capital Management raising their stake by 22.4% during the same quarter.
• Adient's stock has been given mixed ratings, with analysts suggesting a target price range between $17.00 and $27.00, reflecting uncertainty about its performance.

Rhumbline Advisers cut its stake in shares of Adient (NYSE:ADNT - Free Report) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 262,717 shares of the company's stock after selling 13,458 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of Adient worth $3,379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADNT. Brooklyn Investment Group boosted its stake in Adient by 23,600.0% in the 1st quarter. Brooklyn Investment Group now owns 2,133 shares of the company's stock worth $27,000 after purchasing an additional 2,124 shares during the period. GAMMA Investing LLC boosted its stake in Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock worth $29,000 after purchasing an additional 1,367 shares during the period. CWM LLC boosted its stake in Adient by 91.4% in the 1st quarter. CWM LLC now owns 3,426 shares of the company's stock worth $44,000 after purchasing an additional 1,636 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Adient by 418.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,679 shares of the company's stock worth $60,000 after purchasing an additional 3,776 shares during the period. Finally, Plato Investment Management Ltd bought a new position in Adient in the 1st quarter worth approximately $67,000. 92.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Bank of America increased their price target on Adient from $17.50 to $20.00 and gave the company an "underperform" rating in a report on Wednesday, September 10th. Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Morgan Stanley raised their price target on Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 12th. Stifel Nicolaus started coverage on Adient in a research report on Thursday, August 21st. They issued a "buy" rating and a $27.00 price target for the company. Finally, UBS Group raised their price target on Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Adient presently has a consensus rating of "Reduce" and an average target price of $21.75.

Adient Stock Performance

NYSE:ADNT traded down $0.65 during trading hours on Friday, reaching $24.57. The company had a trading volume of 2,584,423 shares, compared to its average volume of 999,396. Adient has a 1-year low of $10.04 and a 1-year high of $25.84. The firm has a market cap of $2.00 billion, a PE ratio of -9.27, a price-to-earnings-growth ratio of 0.96 and a beta of 1.76. The business's 50 day moving average price is $23.42 and its 200-day moving average price is $18.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 0.92.

Adient (NYSE:ADNT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company 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 firm posted $0.32 earnings per share. The company's revenue was up .7% compared to the same quarter last year. Research analysts forecast that Adient will post 1.76 EPS for the current year.

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.