Texas Permanent School Fund Corp Acquires 103,603 Shares of Adient $ADNT

Texas Permanent School Fund Corp raised its holdings in shares of Adient (NYSE:ADNT) by 241.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,486 shares of the company’s stock after buying an additional 103,603 shares during the period. Texas Permanent School Fund Corp’s holdings in Adient were worth $2,851,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Adient by 22.4% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 4,500,736 shares of the company’s stock valued at $57,879,000 after acquiring an additional 823,638 shares during the last quarter. Pzena Investment Management LLC grew its position in Adient by 7.0% during the 2nd 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 last quarter. Vanguard Group Inc. increased its stake in Adient by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company’s stock worth $44,820,000 after purchasing an additional 53,101 shares during the period. Letko Brosseau & Associates Inc. bought a new stake in Adient in the second quarter valued at approximately $28,839,000. Finally, JPMorgan Chase & Co. lifted its position in Adient by 16.2% in the second quarter. JPMorgan Chase & Co. now owns 1,462,162 shares of the company’s stock valued at $28,454,000 after purchasing an additional 203,849 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Stock Up 1.1%

Shares of NYSE ADNT opened at $19.56 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.93 and a debt-to-equity ratio of 1.16. Adient has a 12 month low of $10.04 and a 12 month high of $26.16. The firm has a market capitalization of $1.55 billion, a PE ratio of -5.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.63. The firm has a fifty day simple moving average of $20.71 and a two-hundred day simple moving average of $21.79.

Adient (NYSE:ADNT) last announced its earnings results on Wednesday, May 31st. The company reported ($0.13) earnings per share 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 for the quarter. Equities analysts expect that Adient will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In other Adient news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of Adient 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 sale, the executive vice president directly owned 116,425 shares of the company’s stock, valued at approximately $2,294,736.75. The trade was a 2.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ADNT shares. JPMorgan Chase & Co. cut their target price on shares of Adient from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Barclays lowered their price target on shares of Adient from $27.00 to $24.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Wells Fargo & Company cut their price target on shares of Adient from $31.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. UBS Group decreased their price objective on shares of Adient from $28.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Adient in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.06.

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.