Man Group plc lowered its position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 80.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,175 shares of the auto parts company's stock after selling 97,050 shares during the quarter. Man Group plc's holdings in American Axle & Manufacturing were worth $141,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in American Axle & Manufacturing during the fourth quarter valued at approximately $51,000. Ethic Inc. purchased a new position in shares of American Axle & Manufacturing in the fourth quarter worth $59,000. Ground Swell Capital LLC purchased a new position in shares of American Axle & Manufacturing in the fourth quarter worth $61,000. Cibc World Markets Corp purchased a new position in shares of American Axle & Manufacturing in the fourth quarter worth $63,000. Finally, Oxford Asset Management LLP purchased a new position in shares of American Axle & Manufacturing in the fourth quarter worth $76,000. Hedge funds and other institutional investors own 91.41% of the company's stock.
American Axle & Manufacturing Price Performance
AXL traded down $0.07 during trading hours on Monday, hitting $4.33. The company's stock had a trading volume of 2,355,744 shares, compared to its average volume of 1,982,910. The business's 50-day moving average price is $3.91 and its 200-day moving average price is $5.02. American Axle & Manufacturing Holdings, Inc. has a 12 month low of $3.00 and a 12 month high of $7.76. The stock has a market cap of $513.21 million, a price-to-earnings ratio of 15.45 and a beta of 1.71. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58.
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, topping 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 company 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 business posted $0.18 earnings per share. American Axle & Manufacturing's quarterly revenue was down 12.2% on a year-over-year basis. Sell-side analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. TD Cowen assumed 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. Morgan Stanley lowered 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. Wall Street Zen raised shares of American Axle & Manufacturing from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. UBS Group lowered their target price on shares of American Axle & Manufacturing from $6.00 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Cowen reissued a "hold" rating on shares of American Axle & Manufacturing in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, American Axle & Manufacturing currently has an average rating of "Hold" and a consensus target price of $5.93.
View Our Latest Analysis on American Axle & Manufacturing
About American Axle & Manufacturing
(
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.
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