Everence Capital Management Inc. Invests $89,000 in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Everence Capital Management Inc. bought a new stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,390 shares of the auto parts company’s stock, valued at approximately $89,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp lifted its stake in shares of 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 valued at $754,000 after purchasing an additional 1,370 shares in the last quarter. ProShare Advisors LLC lifted its position in American Axle & Manufacturing by 7.4% during the first quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock valued at $170,000 after buying an additional 1,582 shares in the last quarter. QRG Capital Management Inc. grew its stake in American Axle & Manufacturing by 13.5% during the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock worth $98,000 after buying an additional 1,665 shares during the period. SummerHaven Investment Management LLC increased its position in shares of American Axle & Manufacturing by 2.5% in the second quarter. SummerHaven Investment Management LLC now owns 84,592 shares of the auto parts company’s stock worth $591,000 after acquiring an additional 2,066 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of American Axle & Manufacturing by 18.2% in the 2nd quarter. Xponance Inc. now owns 18,225 shares of the auto parts company’s stock valued at $127,000 after acquiring an additional 2,800 shares during the period. Hedge funds and other institutional investors own 91.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AXL. Deutsche Bank Aktiengesellschaft reaffirmed 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 research note on Monday, August 12th. Finally, Wolfe Research raised American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.10.

American Axle & Manufacturing Trading Down 2.7 %

Shares of AXL opened at $6.05 on Wednesday. American Axle & Manufacturing Holdings, Inc. has a one year low of $5.43 and a one year high of $8.99. The stock has a 50-day moving average price of $6.16 and a 200 day moving average price of $6.84. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.30 and a current ratio of 1.68. The company has a market capitalization of $711.20 million, a P/E ratio of -86.43 and a beta of 1.94.

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

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.