Squarepoint Ops LLC Sells 366,494 Shares of Adient $ADNT

Key Points

• Squarepoint Ops LLC reduced its Adient stake by 95.3%, selling 366,494 shares and retaining 17,908 shares valued at approximately $329,000. Institutional investors collectively own 92.44% of the company.
• Analyst sentiment is mixed: the consensus rating is “Hold” with an average price target of $26.30, while recent actions included price-target cuts from Citigroup and UBS, an upgrade from BNP Paribas Exane, and downgrades from Weiss Ratings and Wall Street Zen.
• Adient’s latest quarter showed revenue of $3.93 billion, up 4.3% year over year and above estimates, but adjusted earnings of $0.48 per share missed expectations of $0.56. The stock opened at $18.31, near its 12-month low of $17.40.

Squarepoint Ops LLC cut its stake in Adient (NYSE:ADNT - Free Report) by 95.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,908 shares of the company's stock after selling 366,494 shares during the period. Squarepoint Ops LLC's holdings in Adient were worth $329,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADNT. Dimensional Fund Advisors LP grew its holdings in shares of Adient by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company's stock worth $88,614,000 after acquiring an additional 211,843 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Adient by 17.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company's stock valued at $46,349,000 after purchasing an additional 336,306 shares during the period. Letko Brosseau & Associates Inc. boosted its position in shares of Adient by 5.3% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 1,576,385 shares of the company's stock valued at $30,219,000 after purchasing an additional 79,549 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Adient by 117.8% during 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 in the last quarter. Finally, Bank of America Corp DE grew its stake in Adient by 61.7% in the first quarter. Bank of America Corp DE now owns 792,543 shares of the company's stock worth $16,017,000 after purchasing an additional 302,538 shares during the period. 92.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Adient

In other news, Director Peter Carlin sold 7,843 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total transaction of $150,977.75. Following the completion of the transaction, the director directly owned 38,835 shares in the company, valued at $747,573.75. This trade represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADNT. Citigroup lowered their price objective on Adient from $33.00 to $29.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Weiss Ratings downgraded shares of Adient from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. BNP Paribas Exane upgraded shares of Adient from a "neutral" rating to an "outperform" rating and set a $26.00 price target for the company in a research note on Thursday, July 30th. UBS Group decreased their price target on shares of Adient from $34.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Finally, Wall Street Zen cut shares of Adient from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $26.30.

Adient Stock Performance

Adient stock opened at $18.31 on Wednesday. Adient has a twelve month low of $17.40 and a twelve month high of $27.32. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $1.41 billion, a P/E ratio of 30.52, a PEG ratio of 0.35 and a beta of 1.52. The stock's 50 day moving average is $19.56 and its 200 day moving average is $20.45.

Adient (NYSE:ADNT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.08). Adient had a net margin of 0.32% and a return on equity of 7.32%. The company had revenue of $3.93 billion for the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that Adient will post 2.02 earnings per share for the current fiscal year.

Adient Profile

Adient plc NYSE: ADNT is a global automotive supplier that designs, engineers and manufactures automotive seating systems and related components. Its products include complete vehicle seats, seat structures, mechanisms, foam products, trim and other components used in passenger vehicles and commercial vehicles.

The company supplies automakers and supports vehicle programs across major automotive markets, including North America, Europe and Asia. Its operations include product development, engineering, manufacturing and assembly, enabling Adient to provide integrated seating solutions for a range of vehicle platforms and interior designs.

Adient became an independent public company in 2016 after being separated from Johnson Controls' automotive seating business.

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