Renaissance Technologies LLC Boosts Stock Position in Adient PLC (NYSE:ADNT)

Renaissance Technologies LLC lifted its position in Adient PLC (NYSE:ADNT) by 61.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,430,700 shares of the company’s stock after buying an additional 544,700 shares during the quarter. Renaissance Technologies LLC owned approximately 1.53% of Adient worth $34,723,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ADNT. CWM LLC raised its holdings in shares of Adient by 231.2% in the 2nd quarter. CWM LLC now owns 1,020 shares of the company’s stock valued at $25,000 after buying an additional 712 shares during the period. Strs Ohio purchased a new stake in Adient during the 2nd quarter worth about $106,000. Stephens Inc. AR purchased a new stake in Adient during the 1st quarter worth about $143,000. Marshall Wace North America L.P. purchased a new stake in Adient during the 1st quarter worth about $179,000. Finally, KCS Wealth Advisory purchased a new stake in Adient during the 2nd quarter worth about $205,000. Hedge funds and other institutional investors own 97.90% of the company’s stock.

ADNT has been the topic of several recent research reports. Morgan Stanley set a $12.00 price target on Adient and gave the stock a “sell” rating in a report on Wednesday, June 26th. Bank of America downgraded Adient from a “buy” rating to a “neutral” rating in a report on Friday. UBS Group downgraded Adient from a “buy” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $27.00 in a report on Thursday. Credit Suisse Group initiated coverage on Adient in a report on Wednesday, June 26th. They set a “neutral” rating and a $24.00 price target on the stock. Finally, ValuEngine upgraded Adient from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. Adient presently has a consensus rating of “Hold” and a consensus price target of $22.20.

Shares of NYSE:ADNT traded up $0.08 on Friday, hitting $25.41. 46,962 shares of the company’s stock were exchanged, compared to its average volume of 1,335,659. The firm’s 50-day moving average is $22.48 and its 200 day moving average is $20.41. The company has a market capitalization of $2.40 billion, a PE ratio of 4.52 and a beta of 3.22. Adient PLC has a 1-year low of $12.15 and a 1-year high of $45.17. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 1.07.

Adient (NYSE:ADNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.07. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Adient had a positive return on equity of 8.35% and a negative net margin of 11.00%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 EPS. On average, analysts anticipate that Adient PLC will post 1.29 EPS for the current fiscal year.

About Adient

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.

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Institutional Ownership by Quarter for Adient (NYSE:ADNT)

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