SG Americas Securities LLC Boosts Stake in Adient $ADNT

Key Points

• SG Americas Securities LLC increased its stake in Adient by 117.8% in the first quarter, ending with 913,585 shares worth about $18.5 million.
• Adient reported stronger-than-expected quarterly results, posting $0.52 EPS versus the $0.44 estimate and revenue of $3.87 billion, up 7% year over year.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $28.44, while shares recently traded around $20.29.

SG Americas Securities LLC grew its holdings in shares of Adient (NYSE:ADNT - Free Report) by 117.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 913,585 shares of the company's stock after acquiring an additional 494,054 shares during the period. SG Americas Securities LLC owned about 1.17% of Adient worth $18,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Adient by 17.2% in the fourth quarter. GAMMA Investing LLC now owns 5,199 shares of the company's stock valued at $100,000 after purchasing an additional 764 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Adient by 9.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,162 shares of the company's stock valued at $193,000 after purchasing an additional 866 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Adient by 5.2% during the 4th quarter. Corient Private Wealth LLC now owns 18,117 shares of the company's stock valued at $347,000 after buying an additional 899 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Adient by 1.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 92,947 shares of the company's stock worth $1,782,000 after buying an additional 1,065 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Adient by 12.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 12,231 shares of the company's stock worth $234,000 after buying an additional 1,353 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total transaction of $499,620.00. Following the completion of the transaction, the executive vice president directly owned 110,886 shares of the company's stock, valued at approximately $2,518,221.06. This represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.94% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADNT shares. Bank of America assumed coverage on shares of Adient in a report on Wednesday, March 4th. They issued an "underperform" rating and a $22.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Adient from $28.00 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday. Weiss Ratings upgraded shares of Adient from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Wednesday, May 13th. UBS Group increased their price target on shares of Adient from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus set a $28.00 price target on Adient in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $28.44.

Adient Stock Performance

ADNT stock opened at $20.29 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. The firm has a market cap of $1.59 billion, a P/E ratio of 28.57, a P/E/G ratio of 0.39 and a beta of 1.50. Adient has a 12-month low of $17.70 and a 12-month high of $27.32. The stock's 50 day simple moving average is $21.70 and its 200 day simple moving average is $21.54.

Adient (NYSE:ADNT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.62 billion. Adient had a net margin of 0.39% and a return on equity of 7.28%. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. As a group, equities research analysts predict that Adient will post 2.1 EPS for the current year.

Adient Company Profile

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.

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