Magnetar Financial LLC Makes New Investment in Adient plc (NYSE:ADNT)

Magnetar Financial LLC bought a new stake in shares of Adient plc (NYSE:ADNT) in the 1st quarter, Holdings Channel reports. The fund bought 83,416 shares of the company’s stock, valued at approximately $2,746,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ADNT. Dimensional Fund Advisors LP grew its stake in Adient by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,017,402 shares of the company’s stock valued at $182,434,000 after purchasing an additional 196,857 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Adient by 5.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 4,469,049 shares of the company’s stock valued at $162,495,000 after acquiring an additional 229,963 shares during the last quarter. Franklin Resources Inc. grew its holdings in Adient by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock worth $117,558,000 after acquiring an additional 37,010 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Adient by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 2,732,345 shares of the company’s stock worth $99,348,000 after purchasing an additional 246,038 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in shares of Adient by 8.9% in the 1st quarter. Pzena Investment Management LLC now owns 1,978,961 shares of the company’s stock valued at $65,147,000 after purchasing an additional 161,579 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Adient news, Director Peter Carlin sold 4,207 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.90, for a total transaction of $121,582.30. Following the transaction, the director now owns 28,352 shares of the company’s stock, valued at approximately $819,372.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Adient Stock Performance

Shares of NYSE ADNT traded down $0.03 during midday trading on Friday, hitting $25.07. 2,662,217 shares of the company’s stock were exchanged, compared to its average volume of 1,145,146. Adient plc has a twelve month low of $22.93 and a twelve month high of $46.51. The firm has a market cap of $2.25 billion, a P/E ratio of 15.38, a PEG ratio of 0.46 and a beta of 2.19. The stock’s 50 day moving average price is $25.91 and its 200-day moving average price is $30.10. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91.

Adient (NYSE:ADNT) last announced its earnings results on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.15. Adient had a return on equity of 8.72% and a net margin of 1.04%. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts anticipate that Adient plc will post 2.14 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADNT. BNP Paribas raised Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price objective for the company in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Adient from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, May 6th. Bank of America reduced their price target on shares of Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Wells Fargo & Company dropped their price objective on shares of Adient from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 25th. Finally, Morgan Stanley decreased their target price on Adient from $35.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Adient presently has a consensus rating of “Hold” and a consensus price target of $34.33.

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.