American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 54.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,166 shares of the auto parts company’s stock after selling 37,637 shares during the period. Assenagon Asset Management S.A.’s holdings in American Axle & Manufacturing were worth $218,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AXL. Sona Asset Management US LLC acquired a new position in American Axle & Manufacturing in the first quarter valued at approximately $7,102,000. Norges Bank acquired a new position in American Axle & Manufacturing in the fourth quarter valued at approximately $7,024,000. Whitebox Advisors LLC raised its position in American Axle & Manufacturing by 74.7% in the first quarter. Whitebox Advisors LLC now owns 1,095,642 shares of the auto parts company’s stock valued at $8,064,000 after purchasing an additional 468,573 shares during the period. Dimensional Fund Advisors LP raised its position in American Axle & Manufacturing by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,669,092 shares of the auto parts company’s stock valued at $67,565,000 after purchasing an additional 465,585 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in American Axle & Manufacturing by 19.0% in the first quarter. Sequoia Financial Advisors LLC now owns 1,912,907 shares of the auto parts company’s stock valued at $14,079,000 after purchasing an additional 304,847 shares during the period. 91.41% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Stock Performance

NYSE:AXL opened at $6.53 on Friday. The firm has a market capitalization of $767.62 million, a PE ratio of -93.29 and a beta of 2.04. The business’s fifty day moving average price is $6.82 and its 200 day moving average price is $7.17. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.69 and a quick ratio of 1.31. American Axle & Manufacturing Holdings, Inc. has a 12 month low of $5.99 and a 12 month high of $8.99.

American Axle & Manufacturing (NYSE:AXL) last posted its earnings results on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. American Axle & Manufacturing had a positive return on equity of 1.92% and a negative net margin of 0.13%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company posted $0.12 earnings per share. American Axle & Manufacturing’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AXL. Bank of America upped their price objective on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a research report on Monday, August 12th. Citigroup upped their price objective on American Axle & Manufacturing from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Finally, UBS Group upped their price objective on American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.90.

American Axle & Manufacturing Company 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.