Rhumbline Advisers Has $1.39 Million Stock Holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Rhumbline Advisers cut its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 5.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 341,418 shares of the auto parts company’s stock after selling 18,482 shares during the period. Rhumbline Advisers owned about 0.29% of American Axle & Manufacturing worth $1,390,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AXL. Principal Financial Group Inc. boosted its position in American Axle & Manufacturing by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 570,074 shares of the auto parts company’s stock worth $3,324,000 after buying an additional 15,976 shares during the period. Y Intercept Hong Kong Ltd boosted its position in American Axle & Manufacturing by 80.2% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 64,701 shares of the auto parts company’s stock worth $377,000 after buying an additional 28,804 shares during the period. Bank of New York Mellon Corp boosted its position in American Axle & Manufacturing by 6.9% during the 4th quarter. Bank of New York Mellon Corp now owns 811,481 shares of the auto parts company’s stock worth $4,731,000 after buying an additional 52,142 shares during the period. Dana Investment Advisors Inc. raised its holdings in American Axle & Manufacturing by 30.4% during the 4th quarter. Dana Investment Advisors Inc. now owns 1,097,655 shares of the auto parts company’s stock worth $6,399,000 after purchasing an additional 256,150 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of American Axle & Manufacturing in the 4th quarter worth approximately $183,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXL has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of 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. TD Cowen initiated coverage on shares of American Axle & Manufacturing in a research report on Friday, March 7th. They issued a “hold” rating and a $5.00 price target on the stock. Wall Street Zen upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Cowen restated a “hold” rating on shares of American Axle & Manufacturing in a research report on Monday, May 5th. Finally, 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 report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, American Axle & Manufacturing presently has a consensus rating of “Hold” and a consensus price target of $5.93.

American Axle & Manufacturing Stock Performance

NYSE:AXL opened at $4.28 on Thursday. The company has a fifty day moving average of $4.08 and a 200-day moving average of $4.86. The firm has a market capitalization of $507.27 million, a P/E ratio of 25.15 and a beta of 1.58. The company has a quick ratio of 1.35, a current ratio of 1.72 and a debt-to-equity ratio of 4.38. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $3.00 and a twelve month high of $7.65.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, May 2nd. The auto parts company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. American Axle & Manufacturing had a net margin of 0.36% and a return on equity of 8.70%. American Axle & Manufacturing’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, sell-side analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS 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.