Renaissance Technologies LLC Sells 422,900 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Renaissance Technologies LLC cut its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 35.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 762,599 shares of the auto parts company’s stock after selling 422,900 shares during the quarter. Renaissance Technologies LLC owned 0.65% of American Axle & Manufacturing worth $5,331,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. nVerses Capital LLC purchased a new position in shares of American Axle & Manufacturing in the 2nd quarter worth $41,000. EntryPoint Capital LLC purchased a new position in American Axle & Manufacturing in the first quarter worth about $76,000. Headlands Technologies LLC purchased a new position in American Axle & Manufacturing in the second quarter worth about $75,000. QRG Capital Management Inc. increased its stake in American Axle & Manufacturing by 13.5% during 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 during the last quarter. Finally, ProShare Advisors LLC raised its position in American Axle & Manufacturing by 7.4% during the first quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock valued at $170,000 after purchasing an additional 1,582 shares during the period. Institutional investors own 91.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AXL shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. Wolfe Research upgraded shares of American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. Finally, Bank of America raised their target price on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.58.

American Axle & Manufacturing Stock Up 1.4 %

Shares of AXL opened at $6.19 on Friday. The firm has a fifty day moving average price of $6.41 and a 200-day moving average price of $6.96. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42. The firm has a market capitalization of $727.07 million, a P/E ratio of -88.36 and a beta of 1.95. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $5.43 and a 12-month high of $8.99.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the firm earned $0.12 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.34 earnings per share for the current year.

American Axle & Manufacturing Company 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.