Exchange Traded Concepts LLC bought a new stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 218,597 shares of the auto parts company's stock, valued at approximately $890,000. Exchange Traded Concepts LLC owned 0.18% of American Axle & Manufacturing at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Lazard Asset Management LLC purchased a new position in American Axle & Manufacturing during the 4th quarter valued at $51,000. Ethic Inc. bought a new position in American Axle & Manufacturing during the 4th quarter valued at approximately $59,000. Ground Swell Capital LLC bought a new position in American Axle & Manufacturing during the 4th quarter valued at approximately $61,000. Wealth Enhancement Advisory Services LLC bought a new position in American Axle & Manufacturing during the 4th quarter valued at approximately $62,000. Finally, Cibc World Markets Corp bought a new stake in shares of American Axle & Manufacturing in the 4th quarter worth $63,000. 91.41% of the stock is currently owned by hedge funds and other institutional investors.
American Axle & Manufacturing Trading Up 1.1%
AXL opened at $4.28 on Friday. The stock has a market cap of $507.27 million, a price-to-earnings ratio of 25.15 and a beta of 1.58. The stock's 50 day moving average price is $4.10 and its 200-day moving average price is $4.84. American Axle & Manufacturing Holdings, Inc. has a one year low of $3.00 and a one year high of $7.65. The company has a debt-to-equity ratio of 4.38, a quick ratio of 1.35 and a current ratio of 1.72.
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 (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. American Axle & Manufacturing had a return on equity of 8.70% and a net margin of 0.36%. American Axle & Manufacturing's quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, equities analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have commented on AXL. Royal Bank Of Canada reissued a "sector perform" rating and issued a $5.00 target price on shares of American Axle & Manufacturing in a report on Wednesday, April 16th. UBS Group lowered their target price on American Axle & Manufacturing from $6.00 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley lowered their price objective on 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. Wall Street Zen raised American Axle & Manufacturing from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, Cowen reaffirmed a "hold" rating on shares of American Axle & Manufacturing in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $5.93.
Get Our Latest Stock Analysis on AXL
American Axle & Manufacturing Profile
(
Free Report)
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.
Further Reading
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