Ameriprise Financial Inc. Sells 284,583 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

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

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AXL shares. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $5.00 target price on shares of American Axle & Manufacturing in a research note on Wednesday, April 16th. Morgan Stanley reduced their price target 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. TD Cowen began coverage on shares of American Axle & Manufacturing in a report on Friday, March 7th. They issued a "hold" rating and a $5.00 target price on the stock. Cowen restated a "hold" rating on shares of American Axle & Manufacturing in a report on Monday, May 5th. Finally, Wall Street Zen upgraded shares of American Axle & Manufacturing from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. One equities research 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 MarketBeat, the company has an average rating of "Hold" and a consensus price target of $5.93.

American Axle & Manufacturing Stock Performance

Shares of American Axle & Manufacturing stock traded down $0.06 during trading hours on Friday, reaching $4.40. 4,414,556 shares of the stock traded hands, compared to its average volume of 1,981,413. The company has a 50 day moving average price of $3.92 and a 200 day moving average price of $5.03. The firm has a market capitalization of $522.11 million, a price-to-earnings ratio of 15.71 and a beta of 1.71. American Axle & Manufacturing Holdings, Inc. has a one year low of $3.00 and a one year high of $7.76. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 4.58.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The auto parts company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 10.44% and a net margin of 0.57%. The business's quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. On average, equities research analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

About American Axle & Manufacturing

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.