American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers boosted its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 15.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 424,177 shares of the auto parts company’s stock after acquiring an additional 55,618 shares during the quarter. Rhumbline Advisers owned 0.36% of American Axle & Manufacturing worth $2,965,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of American Axle & Manufacturing during the second quarter worth about $41,000. EntryPoint Capital LLC acquired a new position in shares of American Axle & Manufacturing in the first quarter worth about $76,000. QRG Capital Management Inc. lifted its stake in shares of American Axle & Manufacturing by 13.5% in the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 1,665 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of American Axle & Manufacturing by 7.4% in the first quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock worth $170,000 after acquiring an additional 1,582 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new position in shares of American Axle & Manufacturing in the second quarter worth about $185,000. Institutional investors and hedge funds own 91.41% of the company’s stock.

American Axle & Manufacturing Stock Performance

Shares of AXL stock opened at $6.13 on Wednesday. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $5.43 and a 12-month high of $8.99. The firm has a market capitalization of $720.60 million, a price-to-earnings ratio of -87.57 and a beta of 1.95. The business has a 50 day simple moving average of $6.53 and a 200 day simple moving average of $6.98. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.68 and a quick ratio of 1.30.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS. On average, equities research analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

AXL has been the topic of several recent analyst reports. Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. Finally, Bank of America increased their price target on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.58.

American Axle & Manufacturing Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.