Meyer Handelman Co. lessened its holdings in Adient PLC (NYSE:ADNT) by 16.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,892 shares of the company’s stock after selling 1,942 shares during the period. Meyer Handelman Co.’s holdings in Adient were worth $389,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Mount Yale Investment Advisors LLC increased its stake in Adient by 268.8% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 2,032 shares of the company’s stock worth $100,000 after buying an additional 1,481 shares during the period. Massey Quick Simon & CO. LLC purchased a new stake in Adient during the 2nd quarter worth $158,000. Jane Street Group LLC purchased a new stake in Adient during the 1st quarter worth $210,000. Oakbrook Investments LLC purchased a new stake in Adient during the 3rd quarter worth $219,000. Finally, Alps Advisors Inc. purchased a new stake in Adient during the 2nd quarter worth $221,000. 97.85% of the stock is currently owned by institutional investors and hedge funds.
ADNT has been the topic of several analyst reports. Buckingham Research dropped their price target on shares of Adient from $54.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 3rd. Zacks Investment Research lowered shares of Adient from a “hold” rating to a “strong sell” rating in a report on Monday, July 16th. Morgan Stanley lowered shares of Adient from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $50.00 to $43.00 in a report on Tuesday, July 31st. ValuEngine lowered shares of Adient from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Finally, Bank of America raised shares of Adient from an “underperform” rating to a “hold” rating and set a $44.00 price objective for the company in a report on Thursday, September 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Adient currently has a consensus rating of “Hold” and an average price target of $53.92.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 24th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend is Tuesday, October 23rd. Adient’s dividend payout ratio is currently 11.76%.
COPYRIGHT VIOLATION NOTICE: This story was published by BBNS and is the sole property of of BBNS. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://baseballnewssource.com/2018/11/10/meyer-handelman-co-cuts-stake-in-adient-plc-adnt/2972338.html.
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.
Recommended Story: Average Daily Trade Volume Explained
Want to see what other hedge funds are holding ADNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adient PLC (NYSE:ADNT).
Receive News & Ratings for Adient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adient and related companies with MarketBeat.com's FREE daily email newsletter.