Thrivent Financial for Lutherans Boosts Holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Thrivent Financial for Lutherans lifted its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 136.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 265,076 shares of the auto parts company’s stock after buying an additional 152,987 shares during the period. Thrivent Financial for Lutherans’ holdings in American Axle & Manufacturing were worth $1,853,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC bought a new position in American Axle & Manufacturing in the second quarter worth $41,000. Headlands Technologies LLC bought a new position in shares of American Axle & Manufacturing in the 2nd quarter worth about $75,000. EntryPoint Capital LLC purchased a new position in American Axle & Manufacturing during the 1st quarter valued at about $76,000. QRG Capital Management Inc. lifted its position in American Axle & Manufacturing by 13.5% during the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after acquiring an additional 1,665 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in American Axle & Manufacturing in the second quarter worth about $108,000. 91.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AXL. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. Bank of America boosted their target price on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a report on Monday, August 12th. Finally, Wolfe Research raised American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.10.

American Axle & Manufacturing Stock Performance

AXL stock opened at $6.25 on Thursday. The stock has a market capitalization of $734.71 million, a PE ratio of -89.29 and a beta of 1.95. The stock’s 50 day simple moving average is $6.31 and its 200 day simple moving average is $6.94. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $5.43 and a 12-month high of $8.99. 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 announced its quarterly earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.34 earnings per share for the current fiscal year.

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.