Readystate Asset Management LP Buys 135,305 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

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

A number of other hedge funds and other institutional investors have also modified their holdings of AXL. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of American Axle & Manufacturing in the 1st quarter valued at $382,000. Allianz Asset Management GmbH boosted its holdings in shares of American Axle & Manufacturing by 9.1% in the first quarter. Allianz Asset Management GmbH now owns 600,200 shares of the auto parts company's stock valued at $2,443,000 after acquiring an additional 50,200 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of American Axle & Manufacturing in the first quarter valued at about $72,000. Principal Financial Group Inc. boosted its holdings in shares of American Axle & Manufacturing by 2.7% in the first quarter. Principal Financial Group Inc. now owns 585,408 shares of the auto parts company's stock valued at $2,383,000 after acquiring an additional 15,334 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of American Axle & Manufacturing by 4.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,936 shares of the auto parts company's stock valued at $424,000 after acquiring an additional 4,260 shares in the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AXL has been the subject of several research reports. Wall Street Zen upgraded shares of American Axle & Manufacturing from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. UBS Group raised shares of American Axle & Manufacturing from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $4.50 to $7.00 in a research report on Monday, July 14th. Royal Bank Of Canada reissued a "sector perform" rating and set a $5.00 target price on shares of American Axle & Manufacturing in a research report on Wednesday, April 16th. Morgan Stanley reduced their target price on shares of American Axle & Manufacturing from $8.00 to $7.50 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Cowen reissued a "hold" rating on shares of American Axle & Manufacturing in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, American Axle & Manufacturing presently has a consensus rating of "Hold" and a consensus price target of $6.43.

American Axle & Manufacturing Price Performance

American Axle & Manufacturing stock traded up $0.08 during mid-day trading on Friday, hitting $4.93. The company's stock had a trading volume of 3,859,585 shares, compared to its average volume of 3,528,143. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $3.00 and a twelve month high of $7.65. The stock's fifty day moving average price is $4.41 and its two-hundred day moving average price is $4.52. The stock has a market capitalization of $584.41 million, a P/E ratio of 28.97 and a beta of 1.54. The company has a quick ratio of 1.35, a current ratio of 1.72 and a debt-to-equity ratio of 4.38.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The auto parts company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. American Axle & Manufacturing had a return on equity of 8.70% and a net margin of 0.36%. The company's revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. Research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current 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.