American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP cut its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 40.6% in the 4th quarter, Holdings Channel reports. The fund owned 148,749 shares of the auto parts company’s stock after selling 101,765 shares during the period. Readystate Asset Management LP’s holdings in American Axle & Manufacturing were worth $1,310,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legal & General Group Plc grew its stake in American Axle & Manufacturing by 4.2% in the fourth quarter. Legal & General Group Plc now owns 337,241 shares of the auto parts company’s stock worth $2,971,000 after purchasing an additional 13,700 shares in the last quarter. Vanguard Group Inc. grew its stake in American Axle & Manufacturing by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 14,146,031 shares of the auto parts company’s stock worth $124,627,000 after purchasing an additional 191,737 shares in the last quarter. Voya Investment Management LLC grew its stake in American Axle & Manufacturing by 2.3% in the fourth quarter. Voya Investment Management LLC now owns 114,592 shares of the auto parts company’s stock worth $1,010,000 after purchasing an additional 2,617 shares in the last quarter. Whitebox Advisors LLC grew its stake in American Axle & Manufacturing by 2.5% in the fourth quarter. Whitebox Advisors LLC now owns 627,069 shares of the auto parts company’s stock worth $5,524,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in American Axle & Manufacturing by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 737,758 shares of the auto parts company’s stock worth $6,500,000 after purchasing an additional 3,241 shares in the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AXL. UBS Group upgraded American Axle & Manufacturing from a “sell” rating to a “neutral” rating and set a $7.00 price target for the company in a research note on Wednesday, February 28th. StockNews.com upgraded American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.70.

American Axle & Manufacturing Stock Performance

NYSE AXL traded up $0.03 during trading hours on Thursday, reaching $6.98. The company’s stock had a trading volume of 1,342,703 shares, compared to its average volume of 1,831,073. The company has a current ratio of 1.67, a quick ratio of 1.27 and a debt-to-equity ratio of 4.55. The business has a 50-day simple moving average of $7.22 and a 200 day simple moving average of $7.47. American Axle & Manufacturing Holdings, Inc. has a 52 week low of $6.29 and a 52 week high of $9.55. The stock has a market cap of $820.43 million, a PE ratio of -25.32, a PEG ratio of 2.85 and a beta of 2.22.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, February 16th. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.42 billion. American Axle & Manufacturing had a negative net margin of 0.55% and a negative return on equity of 1.78%. American Axle & Manufacturing’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) earnings per share. Equities research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.3 earnings per share for the current fiscal year.

American Axle & Manufacturing Profile

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.