Public Sector Pension Investment Board Has $7.63 Million Holdings in Adient $ADNT

Public Sector Pension Investment Board boosted its position in shares of Adient (NYSE:ADNT) by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 316,934 shares of the company’s stock after acquiring an additional 30,552 shares during the period. Public Sector Pension Investment Board’s holdings in Adient were worth $7,632,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in Adient by 62.6% in the third quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock worth $27,000 after purchasing an additional 439 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Adient during the 2nd quarter valued at about $63,000. IFP Advisors Inc increased its position in shares of Adient by 68.4% during the 2nd quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock worth $78,000 after purchasing an additional 1,620 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Adient by 885.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,093 shares of the company’s stock valued at $171,000 after purchasing an additional 6,373 shares during the last quarter. Finally, Ethic Inc. acquired a new position in Adient in the second quarter valued at about $210,000. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADNT shares. Stifel Nicolaus upped their price target on Adient from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Wells Fargo & Company increased their price objective on shares of Adient from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Deutsche Bank Aktiengesellschaft raised shares of Adient from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Thursday, February 5th. Barclays increased their price target on Adient from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Adient in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.44.

Adient Price Performance

Shares of ADNT opened at $25.95 on Wednesday. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -7.17, a PEG ratio of 0.71 and a beta of 1.61. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.17. The company’s fifty day simple moving average is $21.51 and its 200 day simple moving average is $22.27. Adient has a 1-year low of $10.04 and a 1-year high of $27.32.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.16. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the business posted $0.27 EPS. Adient’s revenue was up 4.3% on a year-over-year basis. On average, research analysts forecast that Adient will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $19.71, for a total value of $49,275.00. Following the transaction, the executive vice president owned 116,425 shares of the company’s stock, valued at approximately $2,294,736.75. This represents a 2.10% 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 this link. Company insiders own 0.94% of the company’s stock.

Adient 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.