Thrivent Financial for Lutherans Reduces Stock Position in Adient plc (NYSE:ADNT)

Thrivent Financial for Lutherans trimmed its position in Adient plc (NYSE:ADNT) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,065 shares of the company’s stock after selling 1,239 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Adient were worth $570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sei Investments Co. increased its holdings in Adient by 26.5% in the 2nd quarter. Sei Investments Co. now owns 64,752 shares of the company’s stock worth $1,600,000 after buying an additional 13,546 shares during the period. XTX Topco Ltd increased its stake in shares of Adient by 98.6% in the second quarter. XTX Topco Ltd now owns 29,579 shares of the company’s stock worth $731,000 after acquiring an additional 14,686 shares during the period. Seven Eight Capital LP raised its holdings in shares of Adient by 273.0% during the second quarter. Seven Eight Capital LP now owns 89,392 shares of the company’s stock worth $2,209,000 after purchasing an additional 65,424 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Adient during the second quarter valued at $3,156,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Adient by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,078,070 shares of the company’s stock valued at $125,480,000 after purchasing an additional 61,342 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Stock Performance

ADNT opened at $21.34 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 0.59 and a beta of 2.16. Adient plc has a 52-week low of $19.40 and a 52-week high of $37.19. The firm’s fifty day simple moving average is $21.99 and its two-hundred day simple moving average is $25.70.

Adient (NYSE:ADNT) last released its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Adient had a return on equity of 6.34% and a net margin of 0.50%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. Equities analysts anticipate that Adient plc will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America reduced their price objective on Adient from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Barclays decreased their price target on Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Wolfe Research started coverage on shares of Adient in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, BNP Paribas raised shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price target on the stock in a report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.63.

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.