Readystate Asset Management LP Trims Stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Readystate Asset Management LP lowered its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 40.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,749 shares of the auto parts company’s stock after selling 101,765 shares during the quarter. Readystate Asset Management LP owned 0.13% of American Axle & Manufacturing worth $1,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. grew its stake in shares of American Axle & Manufacturing by 0.9% in the third quarter. UBS Asset Management Americas Inc. now owns 128,704 shares of the auto parts company’s stock valued at $879,000 after buying an additional 1,196 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of American Axle & Manufacturing by 8.3% in the third quarter. Envestnet Asset Management Inc. now owns 19,125 shares of the auto parts company’s stock valued at $131,000 after buying an additional 1,469 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of American Axle & Manufacturing by 9.0% in the second quarter. ProShare Advisors LLC now owns 17,912 shares of the auto parts company’s stock valued at $148,000 after buying an additional 1,482 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of American Axle & Manufacturing by 11.7% in the second quarter. Captrust Financial Advisors now owns 14,395 shares of the auto parts company’s stock valued at $108,000 after buying an additional 1,505 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of American Axle & Manufacturing by 15.0% in the first quarter. Guggenheim Capital LLC now owns 12,212 shares of the auto parts company’s stock valued at $95,000 after buying an additional 1,594 shares in the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AXL shares. StockNews.com raised American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. UBS Group raised American Axle & Manufacturing from a “sell” rating to a “neutral” rating and set a $7.00 target price for the company in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.70.

American Axle & Manufacturing Stock Up 0.4 %

AXL traded up $0.03 on Thursday, hitting $6.98. 1,342,703 shares of the company were exchanged, compared to its average volume of 1,831,073. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $6.29 and a twelve month high of $9.55. The company has a market cap of $820.43 million, a price-to-earnings ratio of -25.32, a price-to-earnings-growth ratio of 2.85 and a beta of 2.22. The company has a current ratio of 1.67, a quick ratio of 1.27 and a debt-to-equity ratio of 4.55. The firm has a 50-day moving average price of $7.22 and a two-hundred day moving average price of $7.47.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, February 16th. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. American Axle & Manufacturing had a negative return on equity of 1.78% and a negative net margin of 0.55%. American Axle & Manufacturing’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) EPS. On average, equities analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.3 earnings per share for the current year.

American Axle & Manufacturing Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.