Bank of New York Mellon Corp reduced its holdings in shares of Adient (NYSE:ADNT – Free Report) by 5.1% in the 1st quarter, HoldingsChannel reports. The fund owned 557,963 shares of the company’s stock after selling 30,023 shares during the quarter. Bank of New York Mellon Corp’s holdings in Adient were worth $11,276,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ADNT. Allspring Global Investments Holdings LLC raised its position in shares of Adient by 9.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,162 shares of the company’s stock worth $193,000 after acquiring an additional 866 shares in the last quarter. Corient Private Wealth LLC lifted its stake in Adient by 5.2% during the fourth quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock worth $347,000 after purchasing an additional 899 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Adient by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 92,947 shares of the company’s stock valued at $1,782,000 after purchasing an additional 1,065 shares in the last quarter. Inspire Investing LLC boosted its holdings in Adient by 4.8% in the first quarter. Inspire Investing LLC now owns 25,814 shares of the company’s stock valued at $522,000 after purchasing an additional 1,178 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Adient by 12.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 12,231 shares of the company’s stock valued at $234,000 after purchasing an additional 1,353 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Insider Activity at Adient
In other news, EVP Heather M. Tiltmann sold 22,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total transaction of $499,620.00. Following the completion of the sale, the executive vice president owned 110,886 shares in the company, valued at approximately $2,518,221.06. This represents a 16.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.94% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on ADNT
Adient Stock Performance
Shares of Adient stock opened at $21.01 on Friday. The firm’s fifty day simple moving average is $20.85 and its 200-day simple moving average is $21.62. Adient has a 12 month low of $17.68 and a 12 month high of $27.32. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 0.41 and a beta of 1.53. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91.
Adient (NYSE:ADNT – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Adient had a net margin of 0.39% and a return on equity of 7.28%. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter in the prior year, the business earned $0.69 EPS. Adient’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that Adient will post 2.13 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.
Further Reading
- Five stocks we like better than Adient
- Popular’s Earnings Beat Shows Why This Bank Stock Keeps Climbing
- ABB’s Rotork Deal Could Put These Flow Control Stocks Back in Focus
- GE HealthCare Stock Climbs on Vital Diagnostics Demand
- Lost in Space: Why Aerospace Valuations Are Plummeting Right Now
Want to see what other hedge funds are holding ADNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adient (NYSE:ADNT – Free Report).
Receive News & Ratings for Adient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adient and related companies with MarketBeat.com's FREE daily email newsletter.
