HITE Hedge Asset Management LLC Purchases 1,600,512 Shares of American Axle & Manufacturing Holdings, Inc. $AXL

Key Points

• HITE Hedge Asset Management LLC significantly increased its stake in American Axle & Manufacturing Holdings, Inc. by purchasing 1,600,512 shares, raising its ownership to approximately 1.64% valued at $7,915,000.
• Multiple institutional investors have enhanced their positions in American Axle, with notable increases from American Century Companies Inc. and Charles Schwab Investment Management Inc.
• American Axle's recent earnings report showed an EPS of $0.21, exceeding analysts' projections, despite a 5.9% decline in revenue compared to the same quarter last year.

HITE Hedge Asset Management LLC raised its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 465.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,944,668 shares of the auto parts company's stock after acquiring an additional 1,600,512 shares during the quarter. HITE Hedge Asset Management LLC owned about 1.64% of American Axle & Manufacturing worth $7,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AXL. Lazard Asset Management LLC bought a new position in American Axle & Manufacturing in the fourth quarter valued at approximately $51,000. Ethic Inc. bought a new position in American Axle & Manufacturing in the fourth quarter valued at approximately $59,000. Ground Swell Capital LLC bought a new position in American Axle & Manufacturing in the fourth quarter valued at approximately $61,000. Golden State Equity Partners bought a new position in American Axle & Manufacturing in the first quarter valued at approximately $61,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in American Axle & Manufacturing in the fourth quarter valued at approximately $62,000. 91.41% of the stock is owned by institutional investors.

American Axle & Manufacturing Stock Up 2.0%

Shares of NYSE:AXL traded up $0.1150 during midday trading on Friday, reaching $5.8150. 3,491,730 shares of the company were exchanged, compared to its average volume of 3,870,403. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $7.03. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 3.86. The stock has a fifty day simple moving average of $4.71 and a two-hundred day simple moving average of $4.46. The firm has a market cap of $690.01 million, a PE ratio of 17.10, a P/E/G ratio of 0.63 and a beta of 1.59.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The auto parts company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.07. American Axle & Manufacturing had a net margin of 0.73% and a return on equity of 8.90%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business posted $0.19 earnings per share. The firm's quarterly revenue was down 5.9% on a year-over-year basis. American Axle & Manufacturing has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AXL. Cowen reaffirmed a "hold" rating on shares of American Axle & Manufacturing in a research note on Monday, May 5th. UBS Group reiterated a "buy" rating on shares of American Axle & Manufacturing in a report on Sunday, August 10th. Morgan Stanley cut 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 report on Monday, May 19th. Stifel Nicolaus assumed coverage on shares of American Axle & Manufacturing in a report on Thursday. They issued a "hold" rating and a $6.00 target price on the stock. Finally, Wall Street Zen upgraded shares of American Axle & Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $6.21.

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.