Verition Fund Management LLC Purchases Shares of 14,021 Adient plc (NYSE:ADNT)

Verition Fund Management LLC acquired a new position in shares of Adient plc (NYSE:ADNT) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 14,021 shares of the company’s stock, valued at approximately $316,000.

Several other hedge funds have also modified their holdings of the stock. CWM LLC increased its position in Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after purchasing an additional 443 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Adient by 3.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company’s stock worth $449,000 after buying an additional 556 shares during the last quarter. Covestor Ltd raised its position in shares of Adient by 23.2% in the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock worth $124,000 after buying an additional 1,032 shares during the period. KBC Group NV boosted its holdings in Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after acquiring an additional 1,136 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after acquiring an additional 1,588 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Stock Performance

Shares of ADNT stock opened at $18.96 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90. The company’s fifty day moving average price is $20.39 and its two-hundred day moving average price is $22.60. The firm has a market capitalization of $1.61 billion, a P/E ratio of 82.43, a P/E/G ratio of 0.32 and a beta of 2.15. Adient plc has a 12 month low of $18.53 and a 12 month high of $37.19.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.68 EPS 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 firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the business posted $0.51 earnings per share. Adient’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, research analysts anticipate that Adient plc will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADNT. Wells Fargo & Company cut their price objective on Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. StockNews.com raised shares of Adient from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Morgan Stanley decreased their price objective on shares of Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Wolfe Research assumed coverage on shares of Adient in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Bank of America cut shares of Adient from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $30.00 to $24.00 in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Adient currently has a consensus rating of “Hold” and an average price target of $24.38.

Insider Activity

In other news, EVP James Conklin sold 11,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total value of $232,875.00. Following the sale, the executive vice president now owns 51,829 shares in the company, valued at approximately $1,049,537.25. This represents a 18.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Adient Company Profile

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.