Vanguard Group Inc. Sells 2,362,180 Shares of American Axle & Manufacturing Holdings, Inc. $AXL

Key Points

• Vanguard Group Inc. has reduced its stake in American Axle & Manufacturing Holdings by 15.0%, selling approximately 2.36 million shares, and now holds about 11.28% of the company, valued at around $54.34 million.
• American Axle & Manufacturing reported a revenue of $1.54 billion for the most recent quarter, which matched analyst estimates, but experienced a 5.9% year-over-year decline in revenue.
• Recent analyst ratings for the company include a "hold" from Stifel Nicolaus with a $6.00 target price and an upgrade to "buy" from Wall Street Zen, indicating mixed sentiments among analysts.

Vanguard Group Inc. trimmed its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 15.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,351,052 shares of the auto parts company's stock after selling 2,362,180 shares during the period. Vanguard Group Inc. owned about 11.28% of American Axle & Manufacturing worth $54,339,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Whitebox Advisors LLC grew its position in American Axle & Manufacturing by 33.7% in the 4th quarter. Whitebox Advisors LLC now owns 1,892,723 shares of the auto parts company's stock worth $11,035,000 after purchasing an additional 477,550 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in American Axle & Manufacturing by 4.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,936 shares of the auto parts company's stock worth $424,000 after purchasing an additional 4,260 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in American Axle & Manufacturing in the 4th quarter worth about $930,000. Wealth Enhancement Advisory Services LLC purchased a new position in American Axle & Manufacturing in the fourth quarter valued at about $62,000. Finally, D. E. Shaw & Co. Inc. boosted its stake in American Axle & Manufacturing by 221.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 157,645 shares of the auto parts company's stock valued at $919,000 after acquiring an additional 108,655 shares during the last quarter. 91.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on AXL. Stifel Nicolaus began coverage on shares of American Axle & Manufacturing in a research note on Thursday, August 21st. They issued a "hold" rating and a $6.00 target price on the stock. Cowen reiterated a "hold" rating on shares of American Axle & Manufacturing in a research note on Monday, May 5th. Morgan Stanley dropped 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 research note on Monday, May 19th. Wall Street Zen upgraded shares of American Axle & Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, UBS Group reiterated a "buy" rating on shares of American Axle & Manufacturing in a research note on Sunday, August 10th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, American Axle & Manufacturing has an average rating of "Hold" and a consensus price target of $6.21.

American Axle & Manufacturing Stock Performance

Shares of AXL stock traded down $0.15 during trading on Friday, reaching $5.83. 11,904,720 shares of the company's stock traded hands, compared to its average volume of 4,162,816. The company has a market capitalization of $691.19 million, a P/E ratio of 17.13, a PEG ratio of 0.65 and a beta of 1.61. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 3.86. The firm's 50-day moving average is $4.88 and its 200 day moving average is $4.49. American Axle & Manufacturing Holdings, Inc. has a 1 year low of $3.00 and a 1 year high of $7.03.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The auto parts company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.07. The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.54 billion. American Axle & Manufacturing had a net margin of 0.73% and a return on equity of 8.90%. American Axle & Manufacturing's revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS. American Axle & Manufacturing has set its FY 2025 guidance at EPS. Equities research analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current year.

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.