Connor Clark & Lunn Investment Management Ltd. Sells 95,883 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 39.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,697 shares of the auto parts company’s stock after selling 95,883 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in American Axle & Manufacturing were worth $900,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of American Axle & Manufacturing in the 2nd quarter worth $41,000. KBC Group NV raised its position in shares of American Axle & Manufacturing by 81.3% in the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock worth $44,000 after acquiring an additional 3,211 shares in the last quarter. Quarry LP raised its position in shares of American Axle & Manufacturing by 159.2% in the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock worth $55,000 after acquiring an additional 4,851 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of American Axle & Manufacturing in the 2nd quarter worth $75,000. Finally, Creative Planning bought a new position in shares of American Axle & Manufacturing in the 3rd quarter worth $80,000. 91.41% of the stock is owned by institutional investors.

American Axle & Manufacturing Stock Up 1.1 %

American Axle & Manufacturing stock opened at $6.70 on Thursday. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.29 and a current ratio of 1.65. The business’s 50-day simple moving average is $6.20 and its two-hundred day simple moving average is $6.64. The company has a market cap of $787.79 million, a PE ratio of 27.92 and a beta of 1.95. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $5.43 and a fifty-two week high of $8.99.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.25. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.51 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) EPS. Equities analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.45 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on AXL. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a research 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 research note on Monday, August 12th. Finally, Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, American Axle & Manufacturing presently has a consensus rating of “Hold” and a consensus target price of $7.38.

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.