Algert Global LLC Trims Stock Holdings in American Axle & Manufacturing Holdings, Inc. $AXL

Key Points

• Algert Global LLC decreased its stake in American Axle & Manufacturing Holdings, Inc. by 5.9%, leaving it with approximately 1,062,923 shares valued at $4.3 million.
• Despite the reduction by Algert Global, several institutional investors have increased their holdings, with American Century Companies Inc. and Invesco Ltd. raising their stakes significantly in the first quarter of 2023.
• American Axle's stock price has seen a decline of 3.1%, with the company reporting a net margin of 0.73% and a drop in revenue of 5.9% year-over-year, despite beating earnings expectations.

Algert Global LLC decreased its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,062,923 shares of the auto parts company's stock after selling 66,486 shares during the period. Algert Global LLC owned 0.90% of American Axle & Manufacturing worth $4,326,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in shares of American Axle & Manufacturing in the fourth quarter worth about $51,000. Ethic Inc. bought a new position in shares of American Axle & Manufacturing in the fourth quarter worth about $59,000. Ground Swell Capital LLC bought a new position in shares of American Axle & Manufacturing in the fourth quarter worth about $61,000. Golden State Equity Partners bought a new position in shares of American Axle & Manufacturing in the first quarter worth about $61,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in American Axle & Manufacturing during the fourth quarter valued at approximately $62,000. Institutional investors own 91.41% of the company's stock.

American Axle & Manufacturing Trading Up 2.0%

AXL stock traded up $0.1150 during midday trading on Friday, reaching $5.8150. 3,491,730 shares of the company traded hands, compared to its average volume of 3,852,016. 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 debt-to-equity ratio of 3.86, a quick ratio of 1.40 and a current ratio of 1.77. The business has a 50 day moving average of $4.71 and a 200-day moving average of $4.45. The firm has a market capitalization of $690.01 million, a price-to-earnings ratio of 17.10, a P/E/G ratio of 0.65 and a beta of 1.59.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The auto parts company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.07. American Axle & Manufacturing had a return on equity of 8.90% and a net margin of 0.73%.The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The company's quarterly revenue was down 5.9% compared to the same quarter last year. American Axle & Manufacturing has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AXL shares. Cowen reissued a "hold" rating on shares of American Axle & Manufacturing in a research note on Monday, May 5th. Morgan Stanley dropped their price target on American Axle & Manufacturing from $8.00 to $7.50 and set an "overweight" rating for the company in a research note on Monday, May 19th. UBS Group reissued a "buy" rating on shares of American Axle & Manufacturing in a research note on Sunday, August 10th. Stifel Nicolaus started coverage on American Axle & Manufacturing in a research note on Thursday. They set a "hold" rating and a $6.00 price target for the company. Finally, Wall Street Zen raised American Axle & Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $6.21.

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.