Assenagon Asset Management S.A. Increases Stock Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Assenagon Asset Management S.A. boosted its stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 540.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199,514 shares of the auto parts company’s stock after acquiring an additional 168,348 shares during the period. Assenagon Asset Management S.A. owned about 0.17% of American Axle & Manufacturing worth $1,233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in American Axle & Manufacturing by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 14,146,031 shares of the auto parts company’s stock valued at $124,627,000 after acquiring an additional 191,737 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in American Axle & Manufacturing by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 8,268,651 shares of the auto parts company’s stock valued at $57,797,000 after acquiring an additional 236,423 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in American Axle & Manufacturing by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,873,408 shares of the auto parts company’s stock valued at $41,055,000 after acquiring an additional 64,546 shares during the last quarter. American Century Companies Inc. lifted its position in American Axle & Manufacturing by 16.1% in the second quarter. American Century Companies Inc. now owns 2,889,357 shares of the auto parts company’s stock valued at $20,197,000 after acquiring an additional 399,616 shares during the last quarter. Finally, Whitebox Advisors LLC lifted 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 acquiring an additional 468,573 shares during the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.

American Axle & Manufacturing Stock Up 1.9 %

AXL stock opened at $5.76 on Friday. The company has a market cap of $677.26 million, a P/E ratio of 576.58 and a beta of 1.94. American Axle & Manufacturing Holdings, Inc. has a 52 week low of $5.43 and a 52 week high of $8.99. The company’s 50-day moving average price is $6.10 and its 200 day moving average price is $6.77. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AXL shares. Wolfe Research upgraded shares of American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. Bank of America lifted their price objective on shares of 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, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price objective on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.10.

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.