Cetera Investment Advisers Purchases New Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Cetera Investment Advisers bought a new position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,609 shares of the auto parts company’s stock, valued at approximately $103,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of American Axle & Manufacturing by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 15,713,232 shares of the auto parts company’s stock worth $91,608,000 after acquiring an additional 462,847 shares during the period. American Century Companies Inc. grew its stake in shares of American Axle & Manufacturing by 12.4% in the 4th quarter. American Century Companies Inc. now owns 3,856,509 shares of the auto parts company’s stock worth $22,483,000 after buying an additional 426,933 shares during the last quarter. Invesco Ltd. grew its stake in shares of American Axle & Manufacturing by 6.0% in the 4th quarter. Invesco Ltd. now owns 1,910,909 shares of the auto parts company’s stock worth $11,141,000 after buying an additional 108,413 shares during the last quarter. Whitebox Advisors LLC grew its stake in shares of American Axle & Manufacturing by 33.7% in the 4th quarter. Whitebox Advisors LLC now owns 1,892,723 shares of the auto parts company’s stock worth $11,035,000 after buying an additional 477,550 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in shares of American Axle & Manufacturing by 1.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,643,712 shares of the auto parts company’s stock worth $9,583,000 after buying an additional 26,890 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

Analyst Ratings Changes

AXL has been the topic of several recent research reports. Wall Street Zen upgraded American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $5.00 price target on shares of American Axle & Manufacturing in a research note on Wednesday, April 16th. TD Cowen started coverage on American Axle & Manufacturing in a research note on Friday, March 7th. They issued a “hold” rating and a $5.00 price target on the stock. UBS Group lowered their price objective 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. Finally, Morgan Stanley lowered their price objective on American Axle & Manufacturing from $8.00 to $7.50 and set an “overweight” rating on the stock in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, American Axle & Manufacturing presently has an average rating of “Hold” and an average target price of $5.93.

American Axle & Manufacturing Price Performance

NYSE AXL opened at $4.33 on Tuesday. The business’s fifty day moving average price is $3.91 and its 200-day moving average price is $5.02. The stock has a market capitalization of $513.21 million, a price-to-earnings ratio of 15.45 and a beta of 1.71. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.63 and a quick ratio of 1.25. American Axle & Manufacturing Holdings, Inc. has a 1-year low of $3.00 and a 1-year high of $7.76.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings results on Friday, May 2nd. The auto parts company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations 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 revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. On average, equities analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current year.

American Axle & Manufacturing Company 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.