Sequoia Financial Advisors LLC Trims Position in American Axle & Manufacturing Holdings, Inc. $AXL

Sequoia Financial Advisors LLC lessened its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 0.1% during the second quarter, HoldingsChannel reports. The firm owned 2,247,469 shares of the auto parts company’s stock after selling 2,986 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in American Axle & Manufacturing were worth $9,170,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its stake in shares of American Axle & Manufacturing by 2.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 113,950 shares of the auto parts company’s stock worth $465,000 after purchasing an additional 2,473 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of American Axle & Manufacturing by 3.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 118,944 shares of the auto parts company’s stock worth $485,000 after purchasing an additional 4,154 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of American Axle & Manufacturing by 4.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,936 shares of the auto parts company’s stock worth $424,000 after purchasing an additional 4,260 shares during the period. Hancock Whitney Corp lifted its stake in shares of American Axle & Manufacturing by 23.8% during the 1st quarter. Hancock Whitney Corp now owns 26,603 shares of the auto parts company’s stock worth $108,000 after purchasing an additional 5,110 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in shares of American Axle & Manufacturing by 8.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 70,337 shares of the auto parts company’s stock worth $286,000 after purchasing an additional 5,186 shares during the period. Hedge funds and other institutional investors own 91.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AXL shares. Wall Street Zen lowered American Axle & Manufacturing from a “strong-buy” rating to a “buy” rating in a research report on Saturday. UBS Group increased their target price on American Axle & Manufacturing from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Monday, October 6th. Royal Bank Of Canada raised American Axle & Manufacturing from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $6.00 to $8.00 in a research report on Tuesday, September 2nd. 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 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Axle & Manufacturing in a research report on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.00.

American Axle & Manufacturing Stock Up 1.9%

Shares of NYSE AXL opened at $5.42 on Tuesday. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $3.00 and a 12-month high of $7.03. The company has a market cap of $643.14 million, a P/E ratio of 15.94, a P/E/G ratio of 0.60 and a beta of 1.53. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 3.86. The stock has a fifty day moving average price of $5.82 and a 200 day moving average price of $4.74.

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

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.