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

Readystate Asset Management LP grew its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 178.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,940 shares of the auto parts company’s stock after purchasing an additional 135,305 shares during the period. Readystate Asset Management LP owned approximately 0.18% of American Axle & Manufacturing worth $859,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of American Axle & Manufacturing during the fourth quarter worth $183,000. Cibc World Markets Corp bought a new position in American Axle & Manufacturing during the fourth quarter valued at about $63,000. Virtu Financial LLC bought a new position in American Axle & Manufacturing during the fourth quarter valued at about $89,000. American Century Companies Inc. raised its holdings in American Axle & Manufacturing by 12.4% during the fourth quarter. American Century Companies Inc. now owns 3,856,509 shares of the auto parts company’s stock valued at $22,483,000 after buying an additional 426,933 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in American Axle & Manufacturing during the fourth quarter valued at about $122,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Stock Up 5.2%

Shares of NYSE:AXL opened at $4.93 on Thursday. The business has a fifty day simple moving average of $4.40 and a 200 day simple moving average of $4.54. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $3.00 and a 12-month high of $7.65. 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 $584.41 million, a P/E ratio of 28.97 and a beta of 1.54.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Morgan Stanley lowered their price target on American Axle & Manufacturing from $8.00 to $7.50 and set an “overweight” rating on the stock in a research note on Monday, May 19th. UBS Group upgraded American Axle & Manufacturing from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.50 to $7.00 in a research note on Monday, July 14th. Royal Bank Of Canada restated a “sector perform” rating and set a $5.00 price target on shares of American Axle & Manufacturing in a research note on Wednesday, April 16th. Finally, Cowen restated a “hold” rating on shares of American Axle & Manufacturing in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.43.

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.