Pzena Investment Management LLC Has $66.08 Million Position in Adient plc (NYSE:ADNT)

Pzena Investment Management LLC boosted its position in Adient plc (NYSE:ADNT) by 17.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,817,382 shares of the company’s stock after purchasing an additional 270,455 shares during the quarter. Pzena Investment Management LLC owned about 1.99% of Adient worth $66,080,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Adient in the third quarter valued at approximately $46,000. Partnership Wealth Management LLC acquired a new stake in shares of Adient during the 4th quarter worth $83,000. AM Squared Ltd bought a new position in shares of Adient in the third quarter worth $106,000. Dark Forest Capital Management LP acquired a new position in Adient in the third quarter valued at about $205,000. Finally, Handelsinvest Investeringsforvaltning bought a new stake in Adient during the fourth quarter worth about $207,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adient

In other news, Director Peter Carlin sold 4,207 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.90, for a total value of $121,582.30. Following the transaction, the director now owns 28,352 shares in the company, valued at $819,372.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Adient Trading Down 0.8 %

Adient stock traded down $0.22 during trading hours on Wednesday, hitting $28.00. The stock had a trading volume of 500,835 shares, compared to its average volume of 1,039,483. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 0.41 and a beta of 2.39. The company has a quick ratio of 0.91, a current ratio of 1.13 and a debt-to-equity ratio of 1.00. The business’s 50 day simple moving average is $30.52 and its 200-day simple moving average is $32.83. Adient plc has a one year low of $26.97 and a one year high of $46.51.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. Adient had a net margin of 1.04% and a return on equity of 8.72%. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same quarter last year, the business earned $0.32 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts predict that Adient plc will post 2.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ADNT shares. Morgan Stanley decreased their target price on shares of Adient from $35.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Adient from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, May 6th. Wells Fargo & Company decreased their price target on Adient from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. JPMorgan Chase & Co. dropped their price objective on Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Finally, Barclays reduced their price objective on Adient from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Adient presently has a consensus rating of “Hold” and a consensus target price of $39.25.

About Adient

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.