Ameriprise Financial Inc. Lowers Stock Holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Ameriprise Financial Inc. decreased its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 35.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 509,595 shares of the auto parts company's stock after selling 284,583 shares during the quarter. Ameriprise Financial Inc. owned 0.43% of American Axle & Manufacturing worth $2,971,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cibc World Markets Corp purchased a new stake in shares of American Axle & Manufacturing in the fourth quarter valued at approximately $63,000. Oxford Asset Management LLP purchased a new stake in American Axle & Manufacturing in the 4th quarter worth $76,000. AXQ Capital LP acquired a new position in American Axle & Manufacturing during the fourth quarter worth $77,000. Polymer Capital Management US LLC purchased a new position in American Axle & Manufacturing during the fourth quarter valued at $77,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of American Axle & Manufacturing in the fourth quarter valued at about $81,000. Hedge funds and other institutional investors own 91.41% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AXL. 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. Cowen restated a "hold" rating on shares of American Axle & Manufacturing in a research report on Monday, May 5th. UBS Group dropped their price target on American Axle & Manufacturing from $6.00 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, April 10th. TD Cowen started coverage on American Axle & Manufacturing in a report on Friday, March 7th. They issued a "hold" rating and a $5.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $5.00 target price on shares of American Axle & Manufacturing in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.93.

American Axle & Manufacturing Trading Up 0.3%

NYSE AXL traded up $0.02 on Thursday, reaching $4.47. 2,165,919 shares of the company were exchanged, compared to its average volume of 1,965,131. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. The business's fifty day moving average price is $3.92 and its 200 day moving average price is $5.08. The stock has a market capitalization of $529.83 million, a P/E ratio of 15.95 and a beta of 1.71. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $7.76.

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 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The company's revenue was down 12.2% compared to the same quarter last year. Analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current 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.