Vident Advisory LLC Takes $463,000 Position in Adient plc (NYSE:ADNT)

Vident Advisory LLC bought a new position in Adient plc (NYSE:ADNT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 26,851 shares of the company's stock, valued at approximately $463,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADNT. Pzena Investment Management LLC grew its position in Adient by 28.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company's stock valued at $62,535,000 after purchasing an additional 803,961 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Adient during the 4th quarter valued at about $11,395,000. Millennium Management LLC grew its position in Adient by 2,039.0% during the 4th quarter. Millennium Management LLC now owns 610,312 shares of the company's stock valued at $10,516,000 after purchasing an additional 581,779 shares during the last quarter. HITE Hedge Asset Management LLC grew its position in Adient by 122.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company's stock valued at $14,065,000 after purchasing an additional 449,272 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Adient by 96.5% during the 4th quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company's stock valued at $13,828,000 after purchasing an additional 394,111 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ADNT. Wall Street Zen raised shares of Adient from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Wells Fargo & Company raised their price target on shares of Adient from $14.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Barclays downgraded shares of Adient from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. UBS Group increased their price objective on shares of Adient from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Bank of America cut shares of Adient from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $24.00 to $18.00 in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $18.22.

Adient Stock Performance

NYSE:ADNT traded down $0.37 during trading hours on Friday, reaching $15.61. The company had a trading volume of 1,239,557 shares, compared to its average volume of 1,423,115. Adient plc has a 1-year low of $10.04 and a 1-year high of $28.48. The firm has a market cap of $1.31 billion, a PE ratio of 780.50, a price-to-earnings-growth ratio of 0.34 and a beta of 1.60. The business's 50 day moving average price is $13.16 and its 200-day moving average price is $15.83. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86.

Adient (NYSE:ADNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.33. Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the company posted $0.54 earnings per share. Adient's revenue for the quarter was down 3.7% on a year-over-year basis. Research analysts forecast that Adient plc 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.