Connor Clark & Lunn Investment Management Ltd. Decreases Stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 33.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 97,567 shares of the auto parts company’s stock after selling 48,130 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of American Axle & Manufacturing worth $569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXL. KBC Group NV lifted its holdings in shares of American Axle & Manufacturing by 81.3% during the third quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock worth $44,000 after purchasing an additional 3,211 shares during the period. XTX Topco Ltd purchased a new position in American Axle & Manufacturing during the 3rd quarter worth approximately $62,000. Zacks Investment Management acquired a new stake in American Axle & Manufacturing during the 3rd quarter valued at approximately $70,000. Quarry LP raised its stake in shares of American Axle & Manufacturing by 51.9% during the 3rd quarter. Quarry LP now owns 11,997 shares of the auto parts company’s stock valued at $74,000 after buying an additional 4,098 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in American Axle & Manufacturing in the 3rd quarter worth approximately $80,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Price Performance

American Axle & Manufacturing stock opened at $4.45 on Friday. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $4.38 and a 12-month high of $7.98. The stock has a market cap of $522.65 million, a P/E ratio of 15.88 and a beta of 1.85. The company has a 50-day moving average price of $5.17 and a 200 day moving average price of $5.82. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the company earned ($0.09) EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. Sell-side analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley cut their target price on shares of American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Cowen assumed coverage on shares of American Axle & Manufacturing in a report on Thursday, March 6th. They issued a “hold” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a research note on Tuesday, February 18th. UBS Group decreased their price objective on shares of American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Finally, Barclays decreased their price objective on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.69.

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.