Segall Bryant & Hamill LLC Makes New $1.40 Million Investment in Adient $ADNT

Key Points

• Segall Bryant & Hamill LLC purchased 69,461 Adient shares worth approximately $1.40 million, while other institutional investors also increased their positions. Institutions and hedge funds now own 92.44% of the company.
• Analyst sentiment is mixed but improving: Adient has a consensus “Hold” rating and a $27.90 price target, with several firms recently upgrading the stock or raising their targets.
• Adient reported quarterly adjusted earnings of $0.52 per share, beating estimates of $0.44, while revenue rose 7% year over year to $3.87 billion. Shares opened at $21.21, up 1.0%.

Segall Bryant & Hamill LLC bought a new stake in shares of Adient (NYSE:ADNT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 69,461 shares of the company's stock, valued at approximately $1,404,000. Segall Bryant & Hamill LLC owned approximately 0.09% of Adient at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UBS Group AG lifted its stake in shares of Adient by 12.9% during the 4th quarter. UBS Group AG now owns 1,848,690 shares of the company's stock worth $35,439,000 after purchasing an additional 210,758 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in 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 valued at $10,658,000 after purchasing an additional 338,517 shares during the last quarter. SG Americas Securities LLC grew its stake in Adient by 117.8% in the first quarter. SG Americas Securities LLC now owns 913,585 shares of the company's stock valued at $18,464,000 after purchasing an additional 494,054 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Adient by 18.8% in the first quarter. Principal Financial Group Inc. now owns 448,624 shares of the company's stock worth $9,067,000 after purchasing an additional 71,055 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Adient by 17.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company's stock worth $46,349,000 after purchasing an additional 336,306 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADNT. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Adient from $31.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Citigroup raised shares of Adient from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $30.00 to $33.00 in a research report on Wednesday, April 15th. BNP Paribas Exane upgraded shares of Adient from a "neutral" rating to an "outperform" rating and set a $26.00 price objective for the company in a research note on Thursday, July 30th. Weiss Ratings raised shares of Adient from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company raised their target price on shares of Adient from $28.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $27.90.

Insider Activity

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total transaction of $499,620.00. Following the transaction, the executive vice president owned 110,886 shares in the company, valued at $2,518,221.06. This represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.94% of the stock is currently owned by company insiders.

Adient Trading Up 1.0%

Shares of NYSE:ADNT opened at $21.21 on Wednesday. The business's 50-day moving average is $20.81 and its 200 day moving average is $21.61. Adient has a 1 year low of $17.68 and a 1 year high of $27.32. The firm has a market capitalization of $1.66 billion, a P/E ratio of 29.88, a P/E/G ratio of 0.41 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. Adient had a return on equity of 7.28% and a net margin of 0.39%.The company had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.62 billion. During the same period last year, the business posted $0.69 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year. On average, research analysts predict that Adient will post 2.13 earnings per share for the current fiscal year.

About Adient

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source