Principal Financial Group Inc. Sells 25,512 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Principal Financial Group Inc. reduced its stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 554,098 shares of the auto parts company’s stock after selling 25,512 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of American Axle & Manufacturing worth $3,424,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AXL. ProShare Advisors LLC grew 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 purchasing an additional 1,582 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in American Axle & Manufacturing in the 1st quarter worth $76,000. Quadrature Capital Ltd purchased a new stake in shares of American Axle & Manufacturing during the 1st quarter valued at about $229,000. Price T Rowe Associates Inc. MD raised its position in American Axle & Manufacturing by 13.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,725 shares of the auto parts company’s stock worth $241,000 after purchasing an additional 3,862 shares during the period. Finally, Whitebox Advisors LLC grew its stake in American Axle & Manufacturing by 74.7% in the 1st quarter. Whitebox Advisors LLC now owns 1,095,642 shares of the auto parts company’s stock worth $8,064,000 after acquiring an additional 468,573 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Trading Up 3.1 %

Shares of American Axle & Manufacturing stock opened at $6.38 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28. The firm has a market cap of $750.16 million, a PE ratio of 25.81 and a beta of 1.95. The business’s fifty day moving average is $6.13 and its two-hundred day moving average is $6.68. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $5.43 and a fifty-two week high of $8.99.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.25. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.51 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. American Axle & Manufacturing’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) EPS. Analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price objective on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. Wolfe Research upgraded shares of American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. Finally, Bank of America boosted their price objective on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.38.

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.