D.A. Davidson & CO. Increases Stake in Adient (ADNT)

D.A. Davidson & CO. grew its holdings in shares of Adient (NYSE:ADNT) by 18.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,802 shares of the company’s stock after buying an additional 1,370 shares during the period. D.A. Davidson & CO.’s holdings in Adient were worth $526,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Elkfork Partners LLC bought a new stake in shares of Adient during the 4th quarter valued at $195,000. Greenwich Wealth Management LLC boosted its holdings in shares of Adient by 50.6% during the 1st quarter. Greenwich Wealth Management LLC now owns 8,891 shares of the company’s stock valued at $531,000 after buying an additional 2,989 shares in the last quarter. Dupont Capital Management Corp boosted its holdings in shares of Adient by 33.3% during the 1st quarter. Dupont Capital Management Corp now owns 14,532 shares of the company’s stock valued at $868,000 after buying an additional 3,628 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Adient by 2.6% during the 1st quarter. Wells Fargo & Company MN now owns 270,975 shares of the company’s stock valued at $16,193,000 after buying an additional 6,820 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its holdings in shares of Adient by 48.0% during the 1st quarter. Virginia Retirement Systems ET AL now owns 21,900 shares of the company’s stock valued at $1,309,000 after buying an additional 7,100 shares in the last quarter. Hedge funds and other institutional investors own 93.02% of the company’s stock.

In other Adient news, Director Frederick A. Henderson bought 1,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average price of $60.50 per share, with a total value of $60,500.00. Following the transaction, the director now owns 6,715 shares in the company, valued at $406,257.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

Shares of Adient stock opened at $57.20 on Friday. The stock has a market capitalization of $5.28 billion, a P/E ratio of 6.12, a PEG ratio of 0.64 and a beta of -0.40. Adient has a 1 year low of $55.85 and a 1 year high of $56.30. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Thursday, May 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($0.04). The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.39 billion. Adient had a return on equity of 16.65% and a net margin of 0.98%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 EPS. analysts expect that Adient will post 7.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Wednesday, April 18th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Tuesday, April 17th. Adient’s payout ratio is 11.76%.

A number of analysts have recently commented on ADNT shares. Morgan Stanley boosted their target price on shares of Adient from $75.00 to $81.00 and gave the company an “overweight” rating in a report on Thursday, March 22nd. JPMorgan Chase cut shares of Adient from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $86.00 to $74.00 in a report on Monday, January 22nd. Barclays restated a “hold” rating and set a $71.00 target price on shares of Adient in a report on Sunday, January 21st. Royal Bank of Canada cut shares of Adient from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $98.00 to $79.00 in a report on Monday, January 22nd. Finally, Zacks Investment Research cut shares of Adient from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $69.92.

Adient Company Profile

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.

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Institutional Ownership by Quarter for Adient (NYSE:ADNT)

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