Assenagon Asset Management S.A. Sells 387,507 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Assenagon Asset Management S.A. reduced its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 55.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 314,299 shares of the auto parts company's stock after selling 387,507 shares during the quarter. Assenagon Asset Management S.A. owned about 0.27% of American Axle & Manufacturing worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXL. Bank of Montreal Can raised its stake in shares of American Axle & Manufacturing by 20.7% during the first quarter. Bank of Montreal Can now owns 46,317 shares of the auto parts company's stock valued at $371,000 after purchasing an additional 7,940 shares during the period. MetLife Investment Management LLC lifted its position in American Axle & Manufacturing by 95.9% in the first quarter. MetLife Investment Management LLC now owns 61,060 shares of the auto parts company's stock worth $474,000 after purchasing an additional 29,891 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in American Axle & Manufacturing by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 98,332 shares of the auto parts company's stock worth $763,000 after acquiring an additional 12,124 shares during the period. APG Asset Management N.V. bought a new stake in shares of American Axle & Manufacturing in the 1st quarter worth approximately $466,000. Finally, Great West Life Assurance Co. Can raised its holdings in shares of American Axle & Manufacturing by 2.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 105,521 shares of the auto parts company's stock worth $843,000 after purchasing an additional 2,040 shares in the last quarter. Institutional investors and hedge funds own 91.41% of the company's stock.

American Axle & Manufacturing Stock Up 1.0 %

Shares of American Axle & Manufacturing stock traded up $0.07 during trading on Wednesday, hitting $7.26. 1,341,098 shares of the stock traded hands, compared to its average volume of 1,951,397. The stock has a market cap of $853.34 million, a P/E ratio of -25.93, a PEG ratio of 2.83 and a beta of 2.22. The company has a fifty day moving average price of $7.40 and a two-hundred day moving average price of $7.48. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $6.29 and a twelve month high of $9.55. The company has a debt-to-equity ratio of 4.55, a quick ratio of 1.27 and a current ratio of 1.67.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last posted its quarterly earnings data on Friday, February 16th. The auto parts company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.10. American Axle & Manufacturing had a negative return on equity of 1.78% and a negative net margin of 0.55%. The company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same period in the prior year, the business earned ($0.07) earnings per share. American Axle & Manufacturing's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. UBS Group upgraded shares of American Axle & Manufacturing from a "sell" rating to a "neutral" rating and set a $7.00 price target on the stock in a research report on Wednesday, February 28th. StockNews.com cut American Axle & Manufacturing from a "buy" rating to a "hold" rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $7.70.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.