American Axle & Manufacturing (NYSE:AXL) Stock Price Down 4.8% After Analyst Downgrade

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) shares were down 4.8% during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $8.00 to $7.00. Barclays currently has an equal weight rating on the stock. American Axle & Manufacturing traded as low as $5.64 and last traded at $5.63. Approximately 879,291 shares changed hands during trading, a decline of 42% from the average daily volume of 1,508,760 shares. The stock had previously closed at $5.91.

Institutional Investors Weigh In On American Axle & Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of AXL. Dimensional Fund Advisors LP grew its stake in American Axle & Manufacturing by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 8,268,651 shares of the auto parts company’s stock valued at $57,797,000 after acquiring an additional 236,423 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of American Axle & Manufacturing by 28.2% during the 2nd quarter. Hsbc Holdings PLC now owns 30,522 shares of the auto parts company’s stock valued at $212,000 after purchasing an additional 6,716 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of American Axle & Manufacturing during the second quarter valued at about $108,000. Sei Investments Co. increased its holdings in shares of American Axle & Manufacturing by 426.6% in the second quarter. Sei Investments Co. now owns 66,834 shares of the auto parts company’s stock worth $467,000 after purchasing an additional 54,143 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of American Axle & Manufacturing by 136.5% in the second quarter. Thrivent Financial for Lutherans now owns 265,076 shares of the auto parts company’s stock worth $1,853,000 after buying an additional 152,987 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Stock Performance

The company has a market capitalization of $667.27 million, a P/E ratio of 23.65 and a beta of 1.96. The business has a 50 day moving average of $6.20 and a 200 day moving average of $6.31. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28.

American Axle & Manufacturing (NYSE:AXL) last posted its earnings results on Friday, November 8th. The auto parts company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.25. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the company earned ($0.11) EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.47 earnings per share for the current 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.