Thrivent Financial for Lutherans Buys 66,495 Shares of Adient $ADNT

Thrivent Financial for Lutherans raised its stake in Adient (NYSE:ADNT) by 106.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 129,076 shares of the company’s stock after buying an additional 66,495 shares during the period. Thrivent Financial for Lutherans’ holdings in Adient were worth $2,512,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Letko Brosseau & Associates Inc. bought a new stake in shares of Adient during the second quarter valued at approximately $28,839,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Adient by 439.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,171,695 shares of the company’s stock worth $22,801,000 after buying an additional 954,441 shares during the period. AQR Capital Management LLC grew its position in shares of Adient by 143.3% during the 2nd quarter. AQR Capital Management LLC now owns 581,242 shares of the company’s stock worth $11,276,000 after buying an additional 342,329 shares in the last quarter. Nuveen LLC bought a new stake in shares of Adient in the first quarter valued at about $3,521,000. Finally, Pzena Investment Management LLC lifted its stake in Adient by 7.0% in the second quarter. Pzena Investment Management LLC now owns 4,174,493 shares of the company’s stock worth $81,236,000 after acquiring an additional 272,920 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Adient news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $19.71, for a total transaction of $49,275.00. Following the transaction, the executive vice president owned 116,425 shares in the company, valued at approximately $2,294,736.75. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

ADNT has been the subject of several research reports. Morgan Stanley raised shares of Adient from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $17.00 to $20.00 in a research report on Monday, December 8th. Wall Street Zen lowered Adient from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. JPMorgan Chase & Co. cut their price objective on shares of Adient from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Wells Fargo & Company lowered their target price on shares of Adient from $31.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, Stifel Nicolaus dropped their target price on Adient from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.06.

Adient Stock Performance

Shares of NYSE ADNT opened at $19.21 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.93 and a debt-to-equity ratio of 1.16. The company has a 50 day simple moving average of $20.64 and a two-hundred day simple moving average of $21.90. Adient has a 12 month low of $10.04 and a 12 month high of $26.16. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -5.75, a PEG ratio of 0.65 and a beta of 1.63.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, May 31st. The company reported ($0.13) earnings per share (EPS) for the quarter. Adient had a negative net margin of 1.93% and a positive return on equity of 7.81%. The company had revenue of $3.51 billion during the quarter. As a group, analysts predict that Adient will post 1.76 earnings per share for the current year.

About Adient

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.