American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Stock Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 876,593 shares of the auto parts company’s stock after acquiring an additional 5,441 shares during the quarter. Bank of New York Mellon Corp’s holdings in American Axle & Manufacturing were worth $6,127,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AXL. Quantbot Technologies LP boosted its holdings in shares of American Axle & Manufacturing by 553.5% during the first quarter. Quantbot Technologies LP now owns 88,887 shares of the auto parts company’s stock worth $654,000 after purchasing an additional 75,285 shares during the period. ProShare Advisors LLC lifted its position in American Axle & Manufacturing by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock worth $170,000 after buying an additional 1,582 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of American Axle & Manufacturing by 6.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,076,121 shares of the auto parts company’s stock valued at $27,101,000 after buying an additional 187,653 shares during the period. Norges Bank purchased a new position in shares of American Axle & Manufacturing during the 4th quarter valued at $7,024,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of American Axle & Manufacturing by 3.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 94,285 shares of the auto parts company’s stock worth $757,000 after acquiring an additional 2,801 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Trading Down 1.8 %

Shares of AXL stock opened at $5.55 on Friday. The firm has a market capitalization of $652.42 million, a P/E ratio of -79.29 and a beta of 1.95. American Axle & Manufacturing Holdings, Inc. has a 1 year low of $5.43 and a 1 year high of $8.99. The firm’s fifty day simple moving average is $6.58 and its 200 day simple moving average is $7.00. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. American Axle & Manufacturing’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share. As a group, sell-side analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.35 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price objective on shares of American Axle & Manufacturing in a research report on Tuesday. Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. Finally, Bank of America raised their price objective on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.58.

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.