Short Interest in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Declines By 7.3%

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 3,690,000 shares, a decrease of 7.3% from the August 15th total of 3,980,000 shares. Approximately 3.3% of the shares of the stock are sold short. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 2.5 days.

American Axle & Manufacturing Trading Up 1.6 %

Shares of American Axle & Manufacturing stock traded up $0.10 during trading on Wednesday, reaching $6.23. 828,876 shares of the stock were exchanged, compared to its average volume of 1,557,428. American Axle & Manufacturing has a 1 year low of $5.43 and a 1 year high of $8.99. The firm has a market cap of $732.36 million, a price-to-earnings ratio of -87.57 and a beta of 1.95. The company has a quick ratio of 1.30, a current ratio of 1.68 and a debt-to-equity ratio of 4.42. The stock’s fifty day moving average is $6.53 and its 200 day moving average is $6.98.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the business posted $0.12 EPS. The business’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts expect that American Axle & Manufacturing will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of American Axle & Manufacturing

Large investors have recently added to or reduced their stakes in the stock. Dana Investment Advisors Inc. lifted its stake in shares of American Axle & Manufacturing by 8.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 940,409 shares of the auto parts company’s stock valued at $6,573,000 after purchasing an additional 73,529 shares during the period. Quarry LP raised its holdings in American Axle & Manufacturing by 159.2% in the second quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 4,851 shares in the last quarter. Algert Global LLC lifted its position in American Axle & Manufacturing by 263.9% during the second quarter. Algert Global LLC now owns 698,364 shares of the auto parts company’s stock valued at $4,882,000 after buying an additional 506,476 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of American Axle & Manufacturing during the 2nd quarter valued at $998,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of American Axle & Manufacturing in the 2nd quarter worth about $170,000. Institutional investors own 91.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. Bank of America increased their target price on American Axle & Manufacturing from $7.00 to $7.50 and gave the company 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 two have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Axle & Manufacturing presently has an average rating of “Hold” and an average price target of $7.58.

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.