Thrivent Financial for Lutherans Grows Stock Holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Thrivent Financial for Lutherans increased its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 45.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 385,067 shares of the auto parts company’s stock after purchasing an additional 119,991 shares during the quarter. Thrivent Financial for Lutherans owned 0.33% of American Axle & Manufacturing worth $2,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AXL. Assenagon Asset Management S.A. increased its stake in American Axle & Manufacturing by 540.2% in the third quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock valued at $1,233,000 after purchasing an additional 168,348 shares during the last quarter. Quest Partners LLC raised its position in American Axle & Manufacturing by 3,849.5% in the 2nd quarter. Quest Partners LLC now owns 166,907 shares of the auto parts company’s stock valued at $1,167,000 after purchasing an additional 162,681 shares during the last quarter. Federated Hermes Inc. boosted its stake in American Axle & Manufacturing by 84.0% during the 2nd quarter. Federated Hermes Inc. now owns 219,509 shares of the auto parts company’s stock worth $1,534,000 after purchasing an additional 100,231 shares during the period. Algert Global LLC increased its stake in American Axle & Manufacturing by 263.9% in the second quarter. Algert Global LLC now owns 698,364 shares of the auto parts company’s stock valued at $4,882,000 after purchasing an additional 506,476 shares during the period. Finally, KBC Group NV boosted its stake 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 buying an additional 3,211 shares during the period. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AXL has been the topic of a number of analyst reports. Wolfe Research raised American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 target price on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. Finally, Bank of America increased their price target on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, American Axle & Manufacturing presently has a consensus rating of “Hold” and an average price target of $7.38.

American Axle & Manufacturing Stock Up 1.1 %

Shares of NYSE:AXL opened at $6.70 on Thursday. 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 market capitalization of $787.79 million, a price-to-earnings ratio of 27.92 and a beta of 1.95. 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 company has a 50 day moving average of $6.20 and a two-hundred day moving average of $6.64.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.25. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. As a group, analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.45 earnings per share for the current fiscal year.

American Axle & Manufacturing Company 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.