Louisiana State Employees Retirement System Cuts Stock Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Louisiana State Employees Retirement System trimmed its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,800 shares of the auto parts company’s stock after selling 2,300 shares during the period. Louisiana State Employees Retirement System’s holdings in American Axle & Manufacturing were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in shares of American Axle & Manufacturing by 42.0% in the first quarter. BNP Paribas Financial Markets now owns 79,267 shares of the auto parts company’s stock worth $583,000 after buying an additional 23,437 shares during the period. GSA Capital Partners LLP acquired a new position in American Axle & Manufacturing during the 1st quarter worth approximately $1,161,000. Texas Permanent School Fund Corp boosted its holdings in American Axle & Manufacturing by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 102,451 shares of the auto parts company’s stock worth $754,000 after acquiring an additional 1,370 shares during the period. Quantbot Technologies LP grew its position in American Axle & Manufacturing by 553.5% in the first quarter. Quantbot Technologies LP now owns 88,887 shares of the auto parts company’s stock valued at $654,000 after acquiring an additional 75,285 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of American Axle & Manufacturing by 8.2% during the first quarter. Empowered Funds LLC now owns 461,740 shares of the auto parts company’s stock worth $3,398,000 after purchasing an additional 34,967 shares in the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Trading Up 5.5 %

NYSE AXL opened at $6.21 on Thursday. The company’s fifty day moving average price is $6.07 and its two-hundred day moving average price is $6.75. The company has a market capitalization of $729.58 million, a price-to-earnings ratio of 621.12 and a beta of 1.95. 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 debt-to-equity ratio of 4.42, a current ratio of 1.68 and a quick ratio of 1.30.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wolfe Research raised shares of American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. Finally, Bank of America increased their price target on American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.38.

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.