Amalgamated Bank Reduces Holdings in Adient plc (NYSE:ADNT)

Amalgamated Bank lowered its position in Adient plc (NYSE:ADNT) by 40.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,832 shares of the company’s stock after selling 17,890 shares during the quarter. Amalgamated Bank’s holdings in Adient were worth $583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Magnetar Financial LLC purchased a new position in shares of Adient in the first quarter worth about $2,746,000. Harbor Capital Advisors Inc. boosted its holdings in Adient by 356.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 83,293 shares of the company’s stock worth $2,058,000 after buying an additional 65,055 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in Adient by 85.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 152,940 shares of the company’s stock valued at $3,779,000 after buying an additional 70,611 shares in the last quarter. Janus Henderson Group PLC grew its stake in Adient by 48.5% in the 1st quarter. Janus Henderson Group PLC now owns 697,303 shares of the company’s stock valued at $22,955,000 after buying an additional 227,810 shares in the last quarter. Finally, HITE Hedge Asset Management LLC raised its holdings in Adient by 125.3% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 512,703 shares of the company’s stock valued at $12,669,000 after acquiring an additional 285,104 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wolfe Research assumed coverage on Adient in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 target price on shares of Adient in a report on Tuesday, September 10th. Morgan Stanley lowered their price target on shares of Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday. StockNews.com raised shares of Adient from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company lowered their target price on shares of Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Adient currently has a consensus rating of “Hold” and an average price target of $25.13.

Adient Stock Performance

Adient stock opened at $19.89 on Friday. Adient plc has a fifty-two week low of $19.30 and a fifty-two week high of $37.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. The stock has a market cap of $1.73 billion, a P/E ratio of 86.48, a price-to-earnings-growth ratio of 0.44 and a beta of 2.18. The firm’s fifty day moving average price is $21.32 and its 200-day moving average price is $23.88.

Adient (NYSE:ADNT) last released its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. Adient had a return on equity of 6.86% and a net margin of 0.12%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts expect that Adient plc will post 2.51 earnings per share for the current fiscal year.

About Adient

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.