Algert Global LLC Decreases 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 reduced its position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,062,923 shares of the auto parts company's stock after selling 66,486 shares during the period. Algert Global LLC owned about 0.90% of American Axle & Manufacturing worth $4,326,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AXL. American Century Companies Inc. lifted its position in American Axle & Manufacturing by 11.1% in the first quarter. American Century Companies Inc. now owns 4,283,580 shares of the auto parts company's stock valued at $17,434,000 after acquiring an additional 427,071 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in American Axle & Manufacturing by 20.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,649,397 shares of the auto parts company's stock valued at $10,783,000 after acquiring an additional 444,134 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in American Axle & Manufacturing by 3.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,346,254 shares of the auto parts company's stock valued at $13,679,000 after acquiring an additional 72,337 shares during the last quarter. Invesco Ltd. lifted its position in American Axle & Manufacturing by 19.0% in the first quarter. Invesco Ltd. now owns 2,274,422 shares of the auto parts company's stock valued at $9,257,000 after acquiring an additional 363,513 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in American Axle & Manufacturing by 17.6% in the first quarter. Sequoia Financial Advisors LLC now owns 2,250,455 shares of the auto parts company's stock valued at $9,159,000 after purchasing an additional 337,508 shares during the period. 91.41% of the stock is owned by hedge funds and other institutional investors.

American Axle & Manufacturing Stock Down 3.1%

Shares of NYSE AXL opened at $5.56 on Tuesday. 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 firm has a market cap of $659.75 million, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 0.64 and a beta of 1.59. American Axle & Manufacturing Holdings, Inc. has a 1 year low of $3.00 and a 1 year high of $7.03. The firm's 50 day moving average price is $4.61 and its 200 day moving average price is $4.43.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The auto parts company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.07. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. American Axle & Manufacturing had a net margin of 0.73% and a return on equity of 8.90%. American Axle & Manufacturing's revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. As a group, sell-side analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of American Axle & Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday. Morgan Stanley reduced their target price on shares of American Axle & Manufacturing from $8.00 to $7.50 and set an "overweight" rating for the company in a report on Monday, May 19th. Cowen reaffirmed a "hold" rating on shares of American Axle & Manufacturing in a report on Monday, May 5th. Finally, UBS Group reissued a "buy" rating on shares of American Axle & Manufacturing in a report on Sunday, August 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.

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