Comerica Bank Trims Holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Comerica Bank decreased its position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,141 shares of the auto parts company’s stock after selling 5,090 shares during the quarter. Comerica Bank owned approximately 0.05% of American Axle & Manufacturing worth $362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp grew its position in shares of American Axle & Manufacturing by 10.5% during the 4th quarter. Northern Trust Corp now owns 1,269,263 shares of the auto parts company’s stock worth $7,400,000 after buying an additional 120,242 shares in the last quarter. Lonestar Capital Management LLC bought a new position in shares of American Axle & Manufacturing during the 4th quarter worth $3,893,000. Aquatic Capital Management LLC grew its position in shares of American Axle & Manufacturing by 100.0% during the 4th quarter. Aquatic Capital Management LLC now owns 88,583 shares of the auto parts company’s stock worth $516,000 after buying an additional 44,283 shares in the last quarter. Oxford Asset Management LLP bought a new position in shares of American Axle & Manufacturing during the 4th quarter worth $76,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of American Axle & Manufacturing during the 4th quarter worth $81,000. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Price Performance

Shares of AXL stock opened at $4.50 on Friday. 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 $531.92 million, a P/E ratio of 16.05 and a beta of 1.71. The stock’s 50-day moving average is $3.94 and its 200 day moving average is $5.17. American Axle & Manufacturing Holdings, Inc. has a 1-year low of $3.00 and a 1-year high of $7.98.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings results on Friday, May 2nd. The auto parts company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The company’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. Research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AXL shares. Barclays dropped their price target on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. UBS Group dropped their price target on American Axle & Manufacturing from $6.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. TD Cowen assumed coverage on American Axle & Manufacturing in a research report on Friday, March 7th. They set a “hold” rating and a $5.00 price objective on the stock. Cowen reaffirmed a “hold” rating on shares of American Axle & Manufacturing in a research report on Monday, May 5th. Finally, StockNews.com raised American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American Axle & Manufacturing presently has an average rating of “Hold” and a consensus target price of $6.00.

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.