American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Stock Position Raised by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 15.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 424,177 shares of the auto parts company’s stock after acquiring an additional 55,618 shares during the quarter. Rhumbline Advisers’ holdings in American Axle & Manufacturing were worth $2,965,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AXL. Texas Permanent School Fund Corp lifted its holdings in shares of American Axle & Manufacturing by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 102,451 shares of the auto parts company’s stock valued at $754,000 after purchasing an additional 1,370 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of American Axle & Manufacturing by 7.4% during the first quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock worth $170,000 after acquiring an additional 1,582 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of American Axle & Manufacturing by 13.5% during the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 1,665 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of American Axle & Manufacturing by 2.5% in the second quarter. SummerHaven Investment Management LLC now owns 84,592 shares of the auto parts company’s stock worth $591,000 after buying an additional 2,066 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of American Axle & Manufacturing by 3.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 94,285 shares of the auto parts company’s stock worth $757,000 after buying an additional 2,801 shares during the last quarter. 91.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AXL. Bank of America boosted their price target on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price objective on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. Finally, Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, American Axle & Manufacturing has a consensus rating of “Hold” and an average target price of $7.58.

American Axle & Manufacturing Trading Up 3.4 %

AXL stock opened at $6.13 on Wednesday. American Axle & Manufacturing Holdings, Inc. has a 1-year low of $5.43 and a 1-year high of $8.99. The firm has a market cap of $720.60 million, a P/E ratio of -87.57 and a beta of 1.95. The business’s 50 day moving average is $6.53 and its 200-day moving average is $6.98. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.08. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 EPS. Equities analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.34 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.