Readystate Asset Management LP Increases Stock Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Readystate Asset Management LP increased its stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 178.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 210,940 shares of the auto parts company's stock after purchasing an additional 135,305 shares during the quarter. Readystate Asset Management LP owned approximately 0.18% of American Axle & Manufacturing worth $859,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace LLP grew its position in American Axle & Manufacturing by 201.2% in the fourth quarter. Marshall Wace LLP now owns 1,246,559 shares of the auto parts company's stock worth $7,267,000 after acquiring an additional 832,726 shares in the last quarter. Lonestar Capital Management LLC purchased a new stake in American Axle & Manufacturing during the fourth quarter worth $3,893,000. JPMorgan Chase & Co. increased its position in shares of American Axle & Manufacturing by 546.6% during the fourth quarter. JPMorgan Chase & Co. now owns 786,569 shares of the auto parts company's stock worth $4,586,000 after purchasing an additional 664,922 shares in the last quarter. Whitebox Advisors LLC increased its position in shares of American Axle & Manufacturing by 33.7% during the fourth quarter. Whitebox Advisors LLC now owns 1,892,723 shares of the auto parts company's stock worth $11,035,000 after purchasing an additional 477,550 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of American Axle & Manufacturing by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 15,713,232 shares of the auto parts company's stock worth $91,608,000 after purchasing an additional 462,847 shares in the last quarter. 91.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AXL shares. Cowen reaffirmed a "hold" rating on shares of American Axle & Manufacturing in a research report on Monday, May 5th. UBS Group raised shares of American Axle & Manufacturing from a "neutral" rating to a "buy" rating and raised their price target for the company from $4.50 to $7.00 in a research note on Monday, July 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $5.00 price target on shares of American Axle & Manufacturing in a research note on Wednesday, April 16th. Wall Street Zen raised shares of American Axle & Manufacturing from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley decreased 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 note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $6.43.

American Axle & Manufacturing Trading Down 1.7%

American Axle & Manufacturing stock traded down $0.09 during trading on Thursday, hitting $4.86. The company had a trading volume of 4,125,089 shares, compared to its average volume of 3,450,364. American Axle & Manufacturing Holdings, Inc. has a 1-year low of $3.00 and a 1-year high of $7.65. The company has a current ratio of 1.72, a quick ratio of 1.35 and a debt-to-equity ratio of 4.38. The company's 50 day simple moving average is $4.40 and its 200-day simple moving average is $4.53. The stock has a market cap of $576.09 million, a price-to-earnings ratio of 28.56 and a beta of 1.54.

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

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.