Soapstone Management L.P. purchased a new stake in Adient PLC (NYSE:ADNT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 85,000 shares of the company’s stock, valued at approximately $5,080,000. Adient makes up 3.1% of Soapstone Management L.P.’s investment portfolio, making the stock its 12th largest holding. Soapstone Management L.P. owned 0.09% of Adient at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADNT. BNP Paribas Arbitrage SA lifted its position in Adient by 2.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 38,993 shares of the company’s stock worth $2,330,000 after buying an additional 967 shares in the last quarter. Baird Financial Group Inc. grew its stake in Adient by 1.7% in the 1st quarter. Baird Financial Group Inc. now owns 58,596 shares of the company’s stock valued at $3,502,000 after buying an additional 993 shares during the last quarter. New York State Common Retirement Fund grew its stake in Adient by 0.3% in the 1st quarter. New York State Common Retirement Fund now owns 345,577 shares of the company’s stock valued at $20,652,000 after buying an additional 1,147 shares during the last quarter. Brinker Capital Inc. grew its position in shares of Adient by 20.6% during the 1st quarter. Brinker Capital Inc. now owns 7,473 shares of the company’s stock worth $447,000 after purchasing an additional 1,274 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Adient by 18.4% during the 1st quarter. D.A. Davidson & CO. now owns 8,802 shares of the company’s stock worth $526,000 after purchasing an additional 1,370 shares in the last quarter. 93.74% of the stock is owned by hedge funds and other institutional investors.
Adient opened at $49.19 on Friday, according to Marketbeat. Adient PLC has a 52-week low of $47.03 and a 52-week high of $86.42. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 5.26, a P/E/G ratio of 0.63 and a beta of -0.59.
Adient (NYSE:ADNT) last issued its quarterly earnings data on Thursday, May 3rd. The company reported $1.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($0.04). Adient had a return on equity of 16.65% and a net margin of 0.98%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter last year, the company earned $2.50 EPS. Adient’s revenue for the quarter was up 9.4% on a year-over-year basis. analysts expect that Adient PLC will post 6.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Wednesday, July 18th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Tuesday, July 17th. Adient’s dividend payout ratio (DPR) is currently 11.76%.
A number of analysts have recently weighed in on the stock. ValuEngine downgraded shares of Adient from a “hold” rating to a “sell” rating in a report on Friday, June 1st. UBS Group dropped their price target on shares of Adient from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, June 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Adient from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 15th. Longbow Research upgraded shares of Adient from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a report on Wednesday, May 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Adient to $50.00 and set an “underweight” rating for the company in a report on Tuesday, June 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $68.83.
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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