Exchange Traded Concepts LLC Grows Stock Holdings in American Axle & Manufacturing Holdings, Inc. $AXL

Exchange Traded Concepts LLC increased its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,928 shares of the auto parts company’s stock after acquiring an additional 13,331 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.20% of American Axle & Manufacturing worth $946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AXL. Golden State Equity Partners purchased a new position in American Axle & Manufacturing during the 1st quarter valued at about $61,000. Wealth Enhancement Advisory Services LLC purchased a new position in American Axle & Manufacturing during the 4th quarter valued at about $62,000. 111 Capital purchased a new position in American Axle & Manufacturing during the 4th quarter valued at about $67,000. Cerity Partners LLC bought a new stake in American Axle & Manufacturing during the 1st quarter valued at approximately $72,000. Finally, QRG Capital Management Inc. boosted its position in American Axle & Manufacturing by 38.6% during the 1st quarter. QRG Capital Management Inc. now owns 18,742 shares of the auto parts company’s stock valued at $76,000 after acquiring an additional 5,222 shares in the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AXL shares. Stifel Nicolaus started coverage on American Axle & Manufacturing in a research report on Thursday, August 21st. They issued a “hold” rating and a $6.00 price target on the stock. Wall Street Zen upgraded shares of American Axle & Manufacturing from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 5th. UBS Group reiterated a “buy” rating on shares of American Axle & Manufacturing in a research note on Sunday, August 10th. Finally, Royal Bank Of Canada upgraded shares of American Axle & Manufacturing from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $6.00 to $8.00 in a research note on Tuesday, September 2nd. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.75.

American Axle & Manufacturing Stock Down 0.7%

AXL opened at $6.01 on Wednesday. The firm has a 50-day simple moving average of $5.47 and a two-hundred day simple moving average of $4.60. American Axle & Manufacturing Holdings, Inc. has a 52 week low of $3.00 and a 52 week high of $7.03. The company has a market capitalization of $712.58 million, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.69 and a beta of 1.61. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 3.86.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, August 8th. The auto parts company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. American Axle & Manufacturing had a net margin of 0.73% and a return on equity of 8.90%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. American Axle & Manufacturing has set its FY 2025 guidance at EPS. Analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

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.