Meyer Handelman Co. Sells 1,942 Shares of Adient PLC (ADNT)

Meyer Handelman Co. cut its position in Adient PLC (NYSE:ADNT) by 16.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,892 shares of the company’s stock after selling 1,942 shares during the quarter. Meyer Handelman Co.’s holdings in Adient were worth $389,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Dupont Capital Management Corp lifted its position in Adient by 40.0% in the 3rd quarter. Dupont Capital Management Corp now owns 22,902 shares of the company’s stock valued at $900,000 after purchasing an additional 6,544 shares during the last quarter. WINTON GROUP Ltd lifted its position in Adient by 17.7% in the 3rd quarter. WINTON GROUP Ltd now owns 267,018 shares of the company’s stock valued at $10,496,000 after purchasing an additional 40,122 shares during the last quarter. American Century Companies Inc. lifted its position in Adient by 4.6% in the 3rd quarter. American Century Companies Inc. now owns 48,739 shares of the company’s stock valued at $1,916,000 after purchasing an additional 2,152 shares during the last quarter. Cadence Capital Management LLC bought a new stake in Adient in the 3rd quarter valued at about $239,000. Finally, Comerica Bank lifted its position in Adient by 45.2% in the 3rd quarter. Comerica Bank now owns 260,349 shares of the company’s stock valued at $8,240,000 after purchasing an additional 81,037 shares during the last quarter. Hedge funds and other institutional investors own 97.85% of the company’s stock.

Several brokerages recently weighed in on ADNT. Morgan Stanley downgraded shares of Adient from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $50.00 to $43.00 in a research report on Tuesday, July 31st. Barclays cut their price objective on shares of Adient from $63.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Monday, July 30th. Guggenheim set a $46.00 price target on shares of Adient and gave the stock a “hold” rating in a research report on Friday, July 27th. Zacks Investment Research downgraded shares of Adient from a “hold” rating to a “strong sell” rating in a research report on Monday, July 16th. Finally, Robert W. Baird upgraded shares of Adient from an “underperform” rating to a “neutral” rating and set a $73.00 price target on the stock in a research report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $53.92.

ADNT stock opened at $21.52 on Friday. Adient PLC has a 52 week low of $21.42 and a 52 week high of $84.59. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 2.30, a P/E/G ratio of 0.38 and a beta of 0.73. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.84 and a current ratio of 1.04.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 24th will be given a dividend of $0.275 per share. The ex-dividend date is Tuesday, October 23rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.11%. Adient’s dividend payout ratio (DPR) is 11.76%.

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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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