Mutual of America Capital Management LLC Sells 985 Shares of Adient (NYSE:ADNT)

Mutual of America Capital Management LLC decreased its position in shares of Adient (NYSE:ADNT) by 7.5% in the 1st quarter, HoldingsChannel reports. The fund owned 12,223 shares of the company’s stock after selling 985 shares during the period. Mutual of America Capital Management LLC’s holdings in Adient were worth $157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADNT. Millennium Management LLC grew its holdings in Adient by 2,039.0% during the fourth quarter. Millennium Management LLC now owns 610,312 shares of the company’s stock worth $10,516,000 after buying an additional 581,779 shares in the last quarter. Federated Hermes Inc. boosted its position in Adient by 68,173.6% in the first quarter. Federated Hermes Inc. now owns 524,341 shares of the company’s stock worth $6,743,000 after purchasing an additional 523,573 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Adient in the first quarter worth $6,022,000. HITE Hedge Asset Management LLC boosted its position in Adient by 122.4% in the fourth quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company’s stock worth $14,065,000 after purchasing an additional 449,272 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its position in Adient by 7.5% in the first quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company’s stock worth $50,174,000 after purchasing an additional 272,121 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADNT. Wall Street Zen raised Adient from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Bank of America boosted their price objective on Adient from $15.00 to $17.50 and gave the stock an “underperform” rating in a research report on Monday, June 16th. Wells Fargo & Company boosted their price objective on Adient from $18.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their price objective on Adient from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, UBS Group boosted their price objective on Adient from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Adient has an average rating of “Hold” and a consensus target price of $21.06.

Adient Stock Up 4.8%

Shares of NYSE ADNT opened at $24.02 on Thursday. Adient has a one year low of $10.04 and a one year high of $24.25. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 0.92. The business’s fifty day moving average price is $20.95 and its 200-day moving average price is $16.71. The stock has a market capitalization of $1.95 billion, a PE ratio of -9.06, a P/E/G ratio of 0.80 and a beta of 1.72.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. On average, equities research analysts anticipate that Adient will post 1.76 EPS for the current 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.