Sequoia Financial Advisors LLC Trims Stock Position in American Axle & Manufacturing Holdings, Inc. $AXL

Sequoia Financial Advisors LLC cut its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,247,469 shares of the auto parts company’s stock after selling 2,986 shares during the period. Sequoia Financial Advisors LLC owned approximately 1.89% of American Axle & Manufacturing worth $9,170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in American Axle & Manufacturing by 4.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,936 shares of the auto parts company’s stock worth $424,000 after purchasing an additional 4,260 shares during the period. Russell Investments Group Ltd. increased its position in American Axle & Manufacturing by 432.7% during the 1st quarter. Russell Investments Group Ltd. now owns 517,981 shares of the auto parts company’s stock worth $2,108,000 after purchasing an additional 420,749 shares during the period. Charles Schwab Investment Management Inc. increased its position in American Axle & Manufacturing by 20.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,649,397 shares of the auto parts company’s stock worth $10,783,000 after purchasing an additional 444,134 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in American Axle & Manufacturing during the 4th quarter worth approximately $62,000. Finally, Nomura Holdings Inc. increased its position in American Axle & Manufacturing by 12.7% during the 1st quarter. Nomura Holdings Inc. now owns 400,300 shares of the auto parts company’s stock worth $1,629,000 after purchasing an additional 45,200 shares during the period. Institutional investors and hedge funds own 91.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AXL. Stifel Nicolaus assumed coverage on American Axle & Manufacturing in a research report on Thursday, August 21st. They set a “hold” rating and a $6.00 target price on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of American Axle & Manufacturing in a report on Saturday, September 27th. UBS Group upped their price target on American Axle & Manufacturing from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Monday, October 6th. Royal Bank Of Canada upgraded American Axle & Manufacturing from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $6.00 to $8.00 in a report on Tuesday, September 2nd. Finally, Wall Street Zen cut American Axle & Manufacturing from a “strong-buy” rating to a “buy” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.00.

American Axle & Manufacturing Price Performance

Shares of NYSE:AXL opened at $5.42 on Tuesday. The business’s fifty day moving average price is $5.82 and its two-hundred day moving average price is $4.74. The stock has a market cap of $643.14 million, a PE ratio of 15.94, a price-to-earnings-growth ratio of 0.60 and a beta of 1.53. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.40 and a current ratio of 1.77. American Axle & Manufacturing Holdings, Inc. has a one year low of $3.00 and a one year high of $7.03.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, August 8th. The auto parts company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.54 billion. American Axle & Manufacturing had a return on equity of 8.90% and a net margin of 0.73%.American Axle & Manufacturing’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. American Axle & Manufacturing has set its FY 2025 guidance at EPS. On average, analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current fiscal year.

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.