Geode Capital Management LLC Decreases Stock Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Geode Capital Management LLC cut its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,621,949 shares of the auto parts company’s stock after selling 32,934 shares during the period. Geode Capital Management LLC owned 2.23% of American Axle & Manufacturing worth $15,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of American Axle & Manufacturing during the 3rd quarter valued at about $62,000. Cibc World Markets Corp purchased a new position in shares of American Axle & Manufacturing in the fourth quarter valued at approximately $63,000. AXQ Capital LP acquired a new position in shares of American Axle & Manufacturing in the fourth quarter worth $77,000. Virtu Financial LLC purchased a new stake in American Axle & Manufacturing during the 4th quarter worth about $89,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in American Axle & Manufacturing in the fourth quarter valued at approximately $122,000. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

American Axle & Manufacturing Price Performance

Shares of American Axle & Manufacturing stock opened at $3.33 on Monday. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $7.98. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.63 and a quick ratio of 1.25. The company has a market cap of $393.46 million, a PE ratio of 11.88 and a beta of 1.70. The firm has a fifty day moving average price of $4.35 and a two-hundred day moving average price of $5.45.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company earned ($0.09) EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AXL shares. StockNews.com cut American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Cowen initiated coverage on American Axle & Manufacturing in a research note on Thursday, March 6th. They set a “hold” rating for the company. TD Cowen assumed coverage on shares of American Axle & Manufacturing in a report on Friday, March 7th. They issued a “hold” rating and a $5.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $5.00 price target on shares of American Axle & Manufacturing in a research note on Wednesday, April 16th. Finally, Morgan Stanley lowered their target price on American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, American Axle & Manufacturing currently has an average rating of “Hold” and a consensus price target of $6.25.

American Axle & Manufacturing Profile

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.