PNC Financial Services Group Inc. Has $1.80 Million Stake in American Axle & Manufact. Holdings, Inc. (AXL)

PNC Financial Services Group Inc. cut its position in American Axle & Manufact. Holdings, Inc. (NYSE:AXL) by 68.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 115,789 shares of the auto parts company’s stock after selling 250,214 shares during the quarter. PNC Financial Services Group Inc.’s holdings in American Axle & Manufact. were worth $1,801,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Advisors Preferred LLC grew its holdings in shares of American Axle & Manufact. by 465.8% during the 2nd quarter. Advisors Preferred LLC now owns 10,738 shares of the auto parts company’s stock valued at $167,000 after purchasing an additional 8,840 shares during the last quarter. Brave Asset Management Inc. bought a new stake in shares of American Axle & Manufact. during the 2nd quarter valued at approximately $170,000. Point72 Asia Hong Kong Ltd grew its holdings in shares of American Axle & Manufact. by 7,105.7% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 11,457 shares of the auto parts company’s stock valued at $174,000 after purchasing an additional 11,298 shares during the last quarter. Element Capital Management LLC bought a new stake in shares of American Axle & Manufact. during the 1st quarter valued at approximately $181,000. Finally, Engineers Gate Manager LP bought a new stake in shares of American Axle & Manufact. during the 2nd quarter valued at approximately $190,000. Institutional investors own 98.34% of the company’s stock.

AXL opened at $18.48 on Monday. American Axle & Manufact. Holdings, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $20.27. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.30 and a current ratio of 1.62. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 4.93, a price-to-earnings-growth ratio of 0.57 and a beta of 1.42.

American Axle & Manufact. (NYSE:AXL) last posted its earnings results on Friday, August 3rd. The auto parts company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.14. American Axle & Manufact. had a net margin of 6.00% and a return on equity of 28.88%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. equities research analysts forecast that American Axle & Manufact. Holdings, Inc. will post 3.9 EPS for the current fiscal year.

Several brokerages recently issued reports on AXL. Buckingham Research began coverage on shares of American Axle & Manufact. in a report on Friday, June 1st. They set a “neutral” rating and a $18.00 price target on the stock. ValuEngine raised shares of American Axle & Manufact. from a “sell” rating to a “hold” rating in a report on Monday, July 30th. TheStreet raised shares of American Axle & Manufact. from a “c+” rating to a “b-” rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research lowered shares of American Axle & Manufact. from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.13.

American Axle & Manufact. Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products. The company's Driveline segment offers axles, driveshafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

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Institutional Ownership by Quarter for American Axle & Manufact. (NYSE:AXL)

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