Exchange Traded Concepts LLC Buys New Shares in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Exchange Traded Concepts LLC purchased a new position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 218,597 shares of the auto parts company's stock, valued at approximately $890,000. Exchange Traded Concepts LLC owned about 0.18% of American Axle & Manufacturing as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AXL. Principal Financial Group Inc. boosted its position in shares of American Axle & Manufacturing by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 570,074 shares of the auto parts company's stock worth $3,324,000 after purchasing an additional 15,976 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in American Axle & Manufacturing by 80.2% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 64,701 shares of the auto parts company's stock worth $377,000 after acquiring an additional 28,804 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in American Axle & Manufacturing by 6.9% during the fourth quarter. Bank of New York Mellon Corp now owns 811,481 shares of the auto parts company's stock worth $4,731,000 after acquiring an additional 52,142 shares in the last quarter. Dana Investment Advisors Inc. lifted its holdings in American Axle & Manufacturing by 30.4% during the fourth quarter. Dana Investment Advisors Inc. now owns 1,097,655 shares of the auto parts company's stock worth $6,399,000 after acquiring an additional 256,150 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in American Axle & Manufacturing during the fourth quarter worth about $183,000. 91.41% of the stock is currently owned by institutional investors.

American Axle & Manufacturing Stock Down 2.4%

Shares of NYSE:AXL traded down $0.10 during midday trading on Monday, reaching $4.09. The company had a trading volume of 3,796,908 shares, compared to its average volume of 2,079,938. The company has a quick ratio of 1.35, a current ratio of 1.72 and a debt-to-equity ratio of 4.38. The business's 50 day moving average price is $4.12 and its 200 day moving average price is $4.80. The stock has a market cap of $485.32 million, a PE ratio of 24.06 and a beta of 1.58. American Axle & Manufacturing Holdings, Inc. has a 1-year low of $3.00 and a 1-year high of $7.65.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last released its 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 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%. 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. Research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Cowen reiterated a "hold" rating on shares of American Axle & Manufacturing in a report on Monday, May 5th. Wall Street Zen upgraded American Axle & Manufacturing from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Morgan Stanley reduced their target price on American Axle & Manufacturing from $8.00 to $7.50 and set an "overweight" rating on the stock in a report on Monday, May 19th. Royal Bank Of Canada restated a "sector perform" rating and issued a $5.00 price target on shares of American Axle & Manufacturing in a report on Wednesday, April 16th. Finally, 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 target on the stock. One 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $5.93.

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.