Quarry LP Buys 4,851 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Quarry LP boosted its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 159.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,899 shares of the auto parts company’s stock after purchasing an additional 4,851 shares during the quarter. Quarry LP’s holdings in American Axle & Manufacturing were worth $55,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in shares of American Axle & Manufacturing in the second quarter valued at $41,000. Headlands Technologies LLC bought a new stake in American Axle & Manufacturing in the 2nd quarter valued at $75,000. EntryPoint Capital LLC acquired a new position in shares of American Axle & Manufacturing in the 1st quarter valued at $76,000. QRG Capital Management Inc. lifted its holdings in shares of 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 worth $98,000 after acquiring an additional 1,665 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of American Axle & Manufacturing during the 2nd quarter worth about $108,000. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Trading Up 2.6 %

AXL stock opened at $6.26 on Friday. The business has a fifty day moving average price of $6.28 and a 200 day moving average price of $6.93. 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 Holdings, Inc. has a fifty-two week low of $5.43 and a fifty-two week high of $8.99. The stock has a market capitalization of $735.88 million, a price-to-earnings ratio of -89.43 and a beta of 1.94.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. Analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.