Principal Financial Group Inc. Reduces Stock Holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Principal Financial Group Inc. cut its position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 4.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 554,098 shares of the auto parts company’s stock after selling 25,512 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of American Axle & Manufacturing worth $3,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. increased its position in shares of American Axle & Manufacturing by 31.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,273,917 shares of the auto parts company’s stock worth $14,053,000 after purchasing an additional 548,860 shares during the last quarter. Algert Global LLC increased its position in shares of American Axle & Manufacturing by 263.9% during the second quarter. Algert Global LLC now owns 698,364 shares of the auto parts company’s stock valued at $4,882,000 after acquiring an additional 506,476 shares during the last quarter. American Century Companies Inc. increased its position in shares of American Axle & Manufacturing by 16.1% during the second quarter. American Century Companies Inc. now owns 2,889,357 shares of the auto parts company’s stock valued at $20,197,000 after acquiring an additional 399,616 shares during the last quarter. Whitebox Advisors LLC raised its stake in shares of American Axle & Manufacturing by 38.0% in the 3rd quarter. Whitebox Advisors LLC now owns 1,415,173 shares of the auto parts company’s stock valued at $8,746,000 after acquiring an additional 389,760 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of American Axle & Manufacturing by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,268,651 shares of the auto parts company’s stock worth $57,797,000 after acquiring an additional 236,423 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.38.

American Axle & Manufacturing Price Performance

Shares of AXL opened at $5.76 on Friday. The company’s 50-day simple moving average is $6.28 and its 200-day simple moving average is $6.41. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.29 and a current ratio of 1.65. American Axle & Manufacturing Holdings, Inc. has a 1 year low of $5.43 and a 1 year high of $8.98. The stock has a market capitalization of $677.27 million, a PE ratio of 24.00 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, topping analysts’ consensus estimates of ($0.05) by $0.25. The company had revenue of $1.50 billion for 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 firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.11) EPS. Analysts forecast 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, 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.