JPMorgan Chase & Co. Sells 180,643 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

JPMorgan Chase & Co. reduced its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 59.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,647 shares of the auto parts company’s stock after selling 180,643 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of American Axle & Manufacturing worth $752,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Barclays PLC raised its holdings in American Axle & Manufacturing by 274.4% during the third quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock worth $1,234,000 after buying an additional 146,430 shares during the last quarter. Geode Capital Management LLC increased its position in shares of American Axle & Manufacturing by 0.8% during the third quarter. Geode Capital Management LLC now owns 2,654,883 shares of the auto parts company’s stock worth $16,411,000 after acquiring an additional 21,054 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of American Axle & Manufacturing in the 3rd quarter worth about $222,000. XTX Topco Ltd bought a new position in American Axle & Manufacturing in the 3rd quarter valued at about $62,000. Finally, Zacks Investment Management acquired a new position in American Axle & Manufacturing during the 3rd quarter valued at about $70,000. 91.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays decreased their price objective on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American Axle & Manufacturing presently has a consensus rating of “Hold” and a consensus target price of $7.30.

American Axle & Manufacturing Trading Up 2.4 %

NYSE:AXL opened at $5.86 on Monday. American Axle & Manufacturing Holdings, Inc. has a 52 week low of $5.41 and a 52 week high of $8.98. The firm has a 50-day moving average price of $6.16 and a two-hundred day moving average price of $6.29. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.29 and a current ratio of 1.65. The firm has a market cap of $688.90 million, a price-to-earnings ratio of 24.41 and a beta of 1.96.

American Axle & Manufacturing (NYSE:AXL) last released its earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.25. The company had revenue of $1.50 billion during 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 quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, equities analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.47 earnings per share for the current fiscal year.

American Axle & Manufacturing Profile

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.