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Algert Global LLC Increases Stock Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

American Axle & Manufacturing logo with Auto/Tires/Trucks background

Algert Global LLC increased its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 31.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 921,396 shares of the auto parts company's stock after purchasing an additional 223,032 shares during the quarter. Algert Global LLC owned 0.78% of American Axle & Manufacturing worth $5,694,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in shares of American Axle & Manufacturing during the second quarter worth approximately $41,000. KBC Group NV raised its holdings in American Axle & Manufacturing by 81.3% during the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company's stock worth $44,000 after purchasing an additional 3,211 shares during the last quarter. Quarry LP increased its stake in shares of American Axle & Manufacturing by 159.2% in the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company's stock valued at $55,000 after acquiring an additional 4,851 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of American Axle & Manufacturing during the second quarter valued at approximately $75,000. Finally, EntryPoint Capital LLC bought a new position in American Axle & Manufacturing in the 1st quarter valued at about $76,000. Institutional investors own 91.41% of the company's stock.

American Axle & Manufacturing Stock Performance

Shares of American Axle & Manufacturing stock traded up $0.14 during midday trading on Friday, hitting $6.52. The company had a trading volume of 1,349,517 shares, compared to its average volume of 1,894,513. The company has a fifty day simple moving average of $6.16 and a 200 day simple moving average of $6.66. The stock has a market cap of $766.62 million, a price-to-earnings ratio of 27.17 and a beta of 1.95. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $5.43 and a 12-month high of $8.99.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last announced its earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.25. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same quarter in the previous year, the company posted ($0.11) EPS. The firm's quarterly revenue was down 3.0% on a year-over-year basis. As a group, analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wolfe Research raised American Axle & Manufacturing to a "hold" rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $6.00 target price on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. Finally, Bank of America increased their target price on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an "underperform" rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $7.38.

Check Out Our Latest Research Report on AXL

American Axle & Manufacturing Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for American Axle & Manufacturing (NYSE:AXL)

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