Versant Capital Management Inc Acquires 1,857 Shares of Adient plc (NYSE:ADNT)

Versant Capital Management Inc increased its holdings in Adient plc (NYSE:ADNT) by 10,316.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,875 shares of the company’s stock after purchasing an additional 1,857 shares during the period. Versant Capital Management Inc’s holdings in Adient were worth $32,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE boosted its stake in shares of Adient by 583.8% during the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after acquiring an additional 1,588 shares in the last quarter. Signaturefd LLC lifted its holdings in Adient by 493.8% in the 3rd quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after purchasing an additional 1,822 shares during the last quarter. KBC Group NV boosted its position in Adient by 51.8% during the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after purchasing an additional 1,136 shares during the period. Covestor Ltd boosted its position in Adient by 23.2% during the third quarter. Covestor Ltd now owns 5,482 shares of the company’s stock worth $124,000 after purchasing an additional 1,032 shares during the period. Finally, Algert Global LLC acquired a new position in Adient during the second quarter valued at approximately $227,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Stock Up 0.4 %

Shares of NYSE ADNT opened at $17.56 on Wednesday. The business has a fifty day moving average of $18.91 and a two-hundred day moving average of $21.39. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. Adient plc has a 52-week low of $16.28 and a 52-week high of $36.04. The stock has a market cap of $1.49 billion, a PE ratio of 76.35, a PEG ratio of 0.32 and a beta of 2.16.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. As a group, equities research analysts expect that Adient plc will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of Adient from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $27.00 to $20.00 in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 price target on shares of Adient in a report on Tuesday, September 10th. Morgan Stanley dropped their price objective on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. StockNews.com upgraded Adient from a “hold” rating to a “buy” rating in a research note on Saturday, December 28th. Finally, Bank of America downgraded Adient from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $30.00 to $24.00 in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.50.

Insiders Place Their Bets

In other news, EVP James Conklin sold 11,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the transaction, the executive vice president now owns 51,829 shares of the company’s stock, valued at $1,049,537.25. This represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

Adient 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.