Assenagon Asset Management S.A. Reduces Stock Holdings in Adient $ADNT

Assenagon Asset Management S.A. reduced its position in shares of Adient (NYSE:ADNT) by 28.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 567,153 shares of the company’s stock after selling 224,346 shares during the period. Assenagon Asset Management S.A.’s holdings in Adient were worth $11,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Leonteq Securities AG purchased a new position in Adient in the 4th quarter valued at about $30,000. Quarry LP increased its position in shares of Adient by 163.9% during the third quarter. Quarry LP now owns 2,304 shares of the company’s stock worth $55,000 after acquiring an additional 1,431 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Adient during the second quarter worth about $63,000. Los Angeles Capital Management LLC acquired a new position in shares of Adient in the fourth quarter worth about $64,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Adient in the fourth quarter worth about $96,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Adient Price Performance

Shares of ADNT opened at $19.91 on Friday. Adient has a 12 month low of $17.70 and a 12 month high of $27.32. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. The stock has a fifty day moving average price of $21.69 and a 200 day moving average price of $21.53. The company has a market cap of $1.56 billion, a P/E ratio of 28.04, a PEG ratio of 0.39 and a beta of 1.50.

Adient (NYSE:ADNT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Adient had a return on equity of 7.28% and a net margin of 0.39%.The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts forecast that Adient will post 2.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company increased their target price on Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $31.00 price target on shares of Adient in a report on Thursday, May 7th. Stifel Nicolaus set a $28.00 price objective on shares of Adient in a research note on Thursday, May 7th. JPMorgan Chase & Co. decreased their price objective on shares of Adient from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Finally, Weiss Ratings raised shares of Adient from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.44.

Insider Activity at Adient

In other Adient news, EVP Heather M. Tiltmann sold 22,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the sale, the executive vice president directly owned 110,886 shares in the company, valued at approximately $2,518,221.06. The trade was a 16.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.