Bank of New York Mellon Corp Increases Stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Bank of New York Mellon Corp grew its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 811,481 shares of the auto parts company’s stock after buying an additional 52,142 shares during the period. Bank of New York Mellon Corp owned approximately 0.69% of American Axle & Manufacturing worth $4,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AXL. Thrivent Financial for Lutherans boosted its holdings in shares of American Axle & Manufacturing by 45.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock valued at $2,380,000 after acquiring an additional 119,991 shares during the last quarter. XTX Topco Ltd purchased a new stake in American Axle & Manufacturing in the third quarter worth approximately $62,000. Barclays PLC lifted its holdings in shares of American Axle & Manufacturing by 274.4% during the 3rd quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock valued at $1,234,000 after buying an additional 146,430 shares during the period. FMR LLC boosted its stake in shares of American Axle & Manufacturing by 25.8% in the 3rd quarter. FMR LLC now owns 511,378 shares of the auto parts company’s stock worth $3,160,000 after buying an additional 104,936 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in American Axle & Manufacturing by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 570,074 shares of the auto parts company’s stock valued at $3,324,000 after acquiring an additional 15,976 shares during the last quarter. Institutional investors own 91.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays dropped their target price on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price target on shares of American Axle & Manufacturing in a research note on Tuesday, February 18th. StockNews.com lowered American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Cowen began coverage on American Axle & Manufacturing in a report on Thursday, March 6th. They set a “hold” rating for the company. Finally, UBS Group decreased their price objective on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, American Axle & Manufacturing presently has a consensus rating of “Hold” and an average target price of $6.69.

American Axle & Manufacturing Trading Up 1.0 %

American Axle & Manufacturing stock opened at $4.55 on Tuesday. American Axle & Manufacturing Holdings, Inc. has a 1 year low of $4.39 and a 1 year high of $7.98. The firm’s 50 day moving average price is $5.26 and its 200-day moving average price is $5.86. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.63 and a quick ratio of 1.25. The stock has a market cap of $534.41 million, a P/E ratio of 16.23 and a beta of 1.85.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. American Axle & Manufacturing’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. On average, equities analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

About American Axle & Manufacturing

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.