American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Stock Position Raised by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury boosted its position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 62.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,755 shares of the auto parts company’s stock after purchasing an additional 47,373 shares during the period. State of Tennessee Department of Treasury owned 0.11% of American Axle & Manufacturing worth $721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its position in American Axle & Manufacturing by 201.2% during the fourth quarter. Marshall Wace LLP now owns 1,246,559 shares of the auto parts company’s stock valued at $7,267,000 after buying an additional 832,726 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of American Axle & Manufacturing by 546.6% in the 4th quarter. JPMorgan Chase & Co. now owns 786,569 shares of the auto parts company’s stock valued at $4,586,000 after purchasing an additional 664,922 shares during the period. Vanguard Group Inc. lifted its position in shares of American Axle & Manufacturing by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 15,713,232 shares of the auto parts company’s stock worth $91,608,000 after purchasing an additional 462,847 shares in the last quarter. American Century Companies Inc. lifted its position in shares of American Axle & Manufacturing by 12.4% in the fourth quarter. American Century Companies Inc. now owns 3,856,509 shares of the auto parts company’s stock worth $22,483,000 after purchasing an additional 426,933 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in American Axle & Manufacturing during the fourth quarter valued at approximately $2,065,000. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

American Axle & Manufacturing Stock Up 5.0 %

AXL opened at $3.99 on Friday. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $3.00 and a twelve month high of $7.98. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.25 and a current ratio of 1.63. The business has a 50 day moving average price of $4.01 and a 200 day moving average price of $5.29. The firm has a market cap of $472.15 million, a P/E ratio of 14.25 and a beta of 1.70.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings data on Friday, May 2nd. The auto parts company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. American Axle & Manufacturing’s quarterly 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. Research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen began coverage on shares of American Axle & Manufacturing in a research note on Friday, March 7th. They set a “hold” rating and a $5.00 target price for the company. StockNews.com cut American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Barclays cut their price target on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Morgan Stanley lowered their price target on American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, UBS Group cut their price objective on shares of 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.25.

American Axle & Manufacturing 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.