Towle & Co. Has $5.22 Million Position in Adient $ADNT

Key Points

• Towle & Co. cut its Adient stake by 39.3% in the first quarter, but still held 258,104 shares worth about $5.22 million at the end of the period.
• Adient reported better-than-expected quarterly results, with EPS of $0.52 versus $0.44 expected and revenue of $3.87 billion versus $3.62 billion forecast. Revenue rose 7.0% year over year.
• Analyst sentiment remains mixed: Adient has an overall “Hold” rating and consensus price target of $28.11, while recent calls included both higher targets from Wells Fargo and UBS and a lower target from JPMorgan.

Towle & Co. lessened its position in shares of Adient (NYSE:ADNT - Free Report) by 39.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,104 shares of the company's stock after selling 167,064 shares during the period. Adient makes up about 2.0% of Towle & Co.'s portfolio, making the stock its 29th largest holding. Towle & Co. owned approximately 0.33% of Adient worth $5,216,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Leonteq Securities AG bought a new position in Adient in the fourth quarter valued at approximately $30,000. Quarry LP lifted its stake in Adient by 163.9% during the third quarter. Quarry LP now owns 2,304 shares of the company's stock worth $55,000 after purchasing an additional 1,431 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Adient in the 2nd quarter valued at $63,000. Parallel Advisors LLC boosted its holdings in shares of Adient by 19.4% in the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company's stock valued at $64,000 after purchasing an additional 517 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Adient in the 4th quarter valued at $64,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Insiders Place Their Bets

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

Adient Stock Down 2.4%

Shares of ADNT opened at $20.16 on Friday. The stock's 50-day moving average price is $20.79 and its two-hundred day moving average price is $21.58. Adient has a 12 month low of $17.68 and a 12 month high of $27.32. The company has a market capitalization of $1.58 billion, a PE ratio of 28.39, a PEG ratio of 0.40 and a beta of 1.53. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18.

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

Analysts Set New Price Targets

ADNT has been the subject of a number of research analyst reports. Weiss Ratings raised Adient from a "sell (d-)" rating to a "hold (c-)" rating in a report on Wednesday, May 13th. Wells Fargo & Company raised their price objective on Adient from $28.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Adient from $31.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. UBS Group boosted their target price on Adient from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Adient from $28.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $28.11.

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.

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