Strs Ohio Trims Position in Adient plc (NYSE:ADNT)

Strs Ohio lessened its position in shares of Adient plc (NYSE:ADNT) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,100 shares of the company’s stock after selling 4,200 shares during the quarter. Strs Ohio’s holdings in Adient were worth $985,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADNT. Headlands Technologies LLC bought a new stake in Adient during the third quarter valued at about $46,000. AM Squared Ltd bought a new stake in Adient during the third quarter valued at about $106,000. Dark Forest Capital Management LP bought a new stake in Adient during the third quarter valued at about $205,000. Handelsinvest Investeringsforvaltning bought a new stake in Adient during the fourth quarter valued at about $207,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Adient by 20.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,743 shares of the company’s stock valued at $211,000 after purchasing an additional 962 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADNT. JPMorgan Chase & Co. cut their price target on Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Monday. Barclays reaffirmed an “equal weight” rating and issued a $37.00 price objective (down previously from $41.00) on shares of Adient in a research note on Wednesday, April 10th. Wells Fargo & Company dropped their price objective on Adient from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Finally, Bank of America dropped their price objective on Adient from $50.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Adient currently has a consensus rating of “Hold” and a consensus target price of $42.43.

Insider Buying and Selling at Adient

In other news, EVP Heather M. Tiltmann sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total value of $336,800.00. Following the completion of the sale, the executive vice president now directly owns 55,669 shares of the company’s stock, valued at approximately $1,874,931.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Adient Price Performance

Shares of Adient stock opened at $28.95 on Wednesday. The stock has a 50 day moving average of $32.57 and a 200 day moving average of $33.65. Adient plc has a 12 month low of $27.73 and a 12 month high of $46.51. The firm has a market cap of $2.64 billion, a PE ratio of 12.92, a PEG ratio of 0.30 and a beta of 2.51. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.16). Adient had a net margin of 1.39% and a return on equity of 7.90%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the company posted $0.34 earnings per share. Adient’s quarterly revenue was up .0% on a year-over-year basis. On average, research analysts expect that Adient plc will post 2.57 EPS for the current fiscal year.

Adient Company 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.