Texas Permanent School Fund Corp Decreases Holdings in Adient plc (NYSE:ADNT)

Texas Permanent School Fund Corp reduced its stake in Adient plc (NYSE:ADNT) by 4.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 75,912 shares of the company’s stock after selling 3,363 shares during the quarter. Texas Permanent School Fund Corp owned 0.08% of Adient worth $1,876,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC boosted its stake in Adient by 5.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 4,469,049 shares of the company’s stock valued at $162,495,000 after acquiring an additional 229,963 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Adient by 1.2% in the 4th quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock worth $117,558,000 after purchasing an additional 37,010 shares during the period. Vanguard Group Inc. grew its holdings in Adient by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 2,732,345 shares of the company’s stock valued at $99,348,000 after purchasing an additional 246,038 shares during the period. Pzena Investment Management LLC grew its holdings in Adient by 8.9% during the first quarter. Pzena Investment Management LLC now owns 1,978,961 shares of the company’s stock valued at $65,147,000 after purchasing an additional 161,579 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Adient by 1.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,733,010 shares of the company’s stock worth $63,012,000 after buying an additional 25,534 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Adient Trading Up 5.9 %

Shares of ADNT stock opened at $21.67 on Wednesday. The company has a market capitalization of $1.95 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 0.53 and a beta of 2.16. Adient plc has a 52-week low of $19.40 and a 52-week high of $38.63. The business’s fifty day moving average is $22.76 and its 200 day moving average is $26.92. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 1.08.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ADNT shares. JPMorgan Chase & Co. dropped their price target on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Wolfe Research assumed coverage on shares of Adient in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Barclays dropped their price target on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company reduced their price objective on shares of Adient from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, June 25th. Finally, BNP Paribas upgraded Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price on the stock in a research report on Monday, July 1st. One analyst has rated the stock with a sell rating, seven have issued 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 a consensus target price of $27.25.

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.