Martingale Asset Management L P Trims Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Martingale Asset Management L P lowered its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 44.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,941 shares of the auto parts company’s stock after selling 36,908 shares during the period. Martingale Asset Management L P’s holdings in American Axle & Manufacturing were worth $268,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AXL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in American Axle & Manufacturing by 1.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 303,709 shares of the auto parts company’s stock valued at $1,877,000 after buying an additional 3,968 shares during the period. State Street Corp boosted its position in shares of American Axle & Manufacturing by 0.5% in the third quarter. State Street Corp now owns 4,704,889 shares of the auto parts company’s stock worth $29,076,000 after acquiring an additional 23,538 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of American Axle & Manufacturing in the third quarter worth approximately $62,000. Y Intercept Hong Kong Ltd purchased a new stake in American Axle & Manufacturing in the third quarter valued at approximately $222,000. Finally, Barclays PLC increased its position in American Axle & Manufacturing by 274.4% during the third quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock worth $1,234,000 after purchasing an additional 146,430 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Stock Performance

Shares of NYSE:AXL opened at $3.11 on Monday. The business’s 50-day simple moving average is $4.52 and its 200 day simple moving average is $5.55. The company has a market cap of $367.42 million, a P/E ratio of 11.09 and a beta of 1.70. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.25 and a current ratio of 1.63. American Axle & Manufacturing Holdings, Inc. has a one year low of $3.01 and a one year high of $7.98.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share. On average, sell-side analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on AXL. Cowen initiated coverage on shares of American Axle & Manufacturing in a report on Thursday, March 6th. They issued a “hold” rating on the stock. UBS Group reduced their target price on American Axle & Manufacturing from $6.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com downgraded American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. TD Cowen began coverage on American Axle & Manufacturing in a report on Friday, March 7th. They issued a “hold” rating and a $5.00 price objective on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.38.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.