American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 585,408 shares of the auto parts company’s stock after purchasing an additional 15,334 shares during the period. Principal Financial Group Inc. owned about 0.49% of American Axle & Manufacturing worth $2,383,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AXL. Raymond James Financial Inc. acquired a new position in shares of American Axle & Manufacturing in the 4th quarter valued at approximately $183,000. Amundi raised its position in shares of American Axle & Manufacturing by 44.6% during the 4th quarter. Amundi now owns 90,902 shares of the auto parts company’s stock valued at $519,000 after acquiring an additional 28,055 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of American Axle & Manufacturing during the 4th quarter valued at approximately $63,000. Intech Investment Management LLC raised its position in shares of American Axle & Manufacturing by 12.4% during the 4th quarter. Intech Investment Management LLC now owns 82,279 shares of the auto parts company’s stock valued at $480,000 after acquiring an additional 9,046 shares in the last quarter. Finally, Magnetar Financial LLC raised its position in shares of American Axle & Manufacturing by 143.3% during the 4th quarter. Magnetar Financial LLC now owns 82,248 shares of the auto parts company’s stock valued at $480,000 after acquiring an additional 48,446 shares in the last quarter. 91.41% of the stock is owned by institutional investors and hedge funds.

American Axle & Manufacturing Trading Down 4.6%

Shares of American Axle & Manufacturing stock opened at $4.55 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.72 and a debt-to-equity ratio of 4.38. The firm has a market cap of $539.90 million, a price-to-earnings ratio of 26.76 and a beta of 1.54. The business has a fifty day simple moving average of $4.39 and a 200-day simple moving average of $4.56. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $7.65.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data 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 business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. American Axle & Manufacturing had a return on equity of 8.70% and a net margin of 0.36%. The company’s revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, equities analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AXL has been the subject of a number of recent research reports. Cowen restated a “hold” rating on shares of American Axle & Manufacturing in a research note on Monday, May 5th. UBS Group upgraded American Axle & Manufacturing from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.50 to $7.00 in a research note on Monday. Royal Bank Of Canada reissued 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. Morgan Stanley decreased their price target on American Axle & Manufacturing from $8.00 to $7.50 and set an “overweight” rating for the company in a research note on Monday, May 19th. Finally, Wall Street Zen raised American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American Axle & Manufacturing has an average rating of “Hold” and an average target price of $6.43.

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.