JPMorgan Chase & Co. Buys 664,922 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

JPMorgan Chase & Co. increased its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 546.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 786,569 shares of the auto parts company's stock after purchasing an additional 664,922 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.67% of American Axle & Manufacturing worth $4,586,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of American Axle & Manufacturing during the third quarter worth $62,000. Cibc World Markets Corp purchased a new stake in shares of American Axle & Manufacturing in the fourth quarter valued at about $63,000. AXQ Capital LP acquired a new stake in shares of American Axle & Manufacturing during the 4th quarter worth approximately $77,000. Virtu Financial LLC acquired a new position in American Axle & Manufacturing in the fourth quarter valued at approximately $89,000. Finally, KLP Kapitalforvaltning AS acquired a new position in American Axle & Manufacturing in the fourth quarter valued at approximately $122,000. 91.41% of the stock is owned by institutional investors and hedge funds.

American Axle & Manufacturing Stock Up 2.2 %

AXL traded up $0.08 on Thursday, reaching $3.47. The company's stock had a trading volume of 798,600 shares, compared to its average volume of 1,791,784. The stock has a market cap of $410.02 million, a price-to-earnings ratio of 12.38 and a beta of 1.70. American Axle & Manufacturing Holdings, Inc. has a 1 year low of $3.00 and a 1 year high of $7.98. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.63 and a quick ratio of 1.25. The business's 50 day moving average is $4.26 and its 200 day moving average is $5.40.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last announced its quarterly earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.06). American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same period in the prior year, the firm earned ($0.09) EPS. The business's quarterly revenue was down 5.6% on a year-over-year basis. As a group, research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AXL shares. Barclays decreased their price objective on American Axle & Manufacturing from $8.00 to $7.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 22nd. StockNews.com cut American Axle & Manufacturing from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. TD Cowen began coverage on American Axle & Manufacturing in a report on Friday, March 7th. They set a "hold" rating and a $5.00 target price for the company. Cowen began coverage on American Axle & Manufacturing in a research note on Thursday, March 6th. They set a "hold" rating on the stock. Finally, UBS Group decreased their price target on American Axle & Manufacturing from $6.00 to $3.50 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $6.25.

American Axle & Manufacturing Company Profile

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.