State of Alaska Department of Revenue Sells 1,919 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

State of Alaska Department of Revenue trimmed its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,099 shares of the auto parts company’s stock after selling 1,919 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of American Axle & Manufacturing worth $414,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in American Axle & Manufacturing in the second quarter worth about $41,000. Quarry LP raised its stake in American Axle & Manufacturing by 159.2% during the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock worth $55,000 after acquiring an additional 4,851 shares during the period. Headlands Technologies LLC purchased a new position in American Axle & Manufacturing during the second quarter valued at approximately $75,000. EntryPoint Capital LLC bought a new position in shares of American Axle & Manufacturing in the first quarter worth approximately $76,000. Finally, Creative Planning purchased a new stake in shares of American Axle & Manufacturing in the third quarter worth $80,000. 91.41% of the stock is owned by hedge funds and other institutional investors.

American Axle & Manufacturing Price Performance

AXL stock opened at $6.77 on Friday. The firm has a market capitalization of $796.02 million, a P/E ratio of 677.00 and a beta of 1.95. American Axle & Manufacturing Holdings, Inc. has a 52 week low of $5.43 and a 52 week high of $8.99. The company has a quick ratio of 1.30, a current ratio of 1.68 and a debt-to-equity ratio of 4.42. The company has a fifty day simple moving average of $6.07 and a two-hundred day simple moving average of $6.74.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $0.12 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on AXL shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. Bank of America upped their target price on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a research report on Monday, August 12th. Finally, Wolfe Research upgraded shares of American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Axle & Manufacturing presently has a consensus rating of “Hold” and a consensus target price of $7.38.

About American Axle & Manufacturing

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.