D.A. Davidson & CO. Boosts Holdings in Adient (ADNT)

D.A. Davidson & CO. grew its holdings in shares of Adient (NYSE:ADNT) by 18.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,802 shares of the company’s stock after acquiring an additional 1,370 shares during the quarter. D.A. Davidson & CO.’s holdings in Adient were worth $526,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Massachusetts Financial Services Co. MA purchased a new position in shares of Adient during the first quarter worth approximately $51,926,000. Wells Fargo & Company MN raised its stake in shares of Adient by 2.6% during the first quarter. Wells Fargo & Company MN now owns 270,975 shares of the company’s stock worth $16,193,000 after acquiring an additional 6,820 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Adient by 33.3% during the first quarter. Wedge Capital Management L L P NC now owns 184,186 shares of the company’s stock worth $11,007,000 after acquiring an additional 46,058 shares in the last quarter. Comerica Bank raised its stake in shares of Adient by 7.1% during the first quarter. Comerica Bank now owns 136,444 shares of the company’s stock worth $8,582,000 after acquiring an additional 9,013 shares in the last quarter. Finally, Virginia Retirement Systems ET AL raised its stake in shares of Adient by 48.0% during the first quarter. Virginia Retirement Systems ET AL now owns 21,900 shares of the company’s stock worth $1,309,000 after acquiring an additional 7,100 shares in the last quarter. 93.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Adient stock opened at $57.20 on Friday. 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 firm has a market cap of $5.28 billion, a price-to-earnings ratio of 6.12, a P/E/G ratio of 0.64 and a beta of -0.40. Adient has a 12-month low of $55.85 and a 12-month high of $56.30.

Adient (NYSE:ADNT) last issued its quarterly earnings data 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 company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Adient had a net margin of 0.98% and a return on equity of 16.65%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.50 earnings per share. analysts forecast that Adient will post 7.41 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Wednesday, April 18th were given a dividend of $0.275 per share. 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 currently 11.76%.

Several brokerages recently commented on ADNT. Royal Bank of Canada decreased their target price on shares of Adient to $70.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 30th. ValuEngine downgraded shares of Adient from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Barclays reaffirmed a “hold” rating and issued a $71.00 target price on shares of Adient in a research note on Sunday, January 21st. Susquehanna Bancshares set a $60.00 target price on shares of Adient and gave the stock a “hold” rating in a research note on Wednesday, March 14th. Finally, Zacks Investment Research downgraded shares of Adient from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $69.92.

In related news, Director Frederick A. Henderson acquired 1,000 shares of Adient stock in a transaction on Friday, March 2nd. The shares were acquired at an average cost 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Adient 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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