344,156 Shares in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC bought a new position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 344,156 shares of the auto parts company's stock, valued at approximately $2,006,000. HITE Hedge Asset Management LLC owned about 0.29% of American Axle & Manufacturing as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Marshall Wace LLP increased its holdings in American Axle & Manufacturing by 201.2% in the fourth quarter. Marshall Wace LLP now owns 1,246,559 shares of the auto parts company's stock valued at $7,267,000 after purchasing an additional 832,726 shares during the period. JPMorgan Chase & Co. increased its stake in shares of American Axle & Manufacturing by 546.6% in the fourth quarter. JPMorgan Chase & Co. now owns 786,569 shares of the auto parts company's stock valued at $4,586,000 after buying an additional 664,922 shares during the period. Vanguard Group Inc. lifted its stake in shares of American Axle & Manufacturing by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 15,713,232 shares of the auto parts company's stock worth $91,608,000 after acquiring an additional 462,847 shares during the period. American Century Companies Inc. boosted its holdings in American Axle & Manufacturing by 12.4% in the fourth quarter. American Century Companies Inc. now owns 3,856,509 shares of the auto parts company's stock valued at $22,483,000 after acquiring an additional 426,933 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of American Axle & Manufacturing in the 4th quarter valued at $2,065,000. 91.41% of the stock is owned by institutional investors and hedge funds.

American Axle & Manufacturing Price Performance

NYSE AXL traded up $0.12 on Wednesday, hitting $3.49. The stock had a trading volume of 1,185,791 shares, compared to its average volume of 1,790,386. The firm has a 50-day moving average of $4.29 and a 200-day moving average of $5.41. The company has a market capitalization of $412.98 million, a price-to-earnings ratio of 12.46 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 52-week low of $3.00 and a 52-week high of $7.98.

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

Analyst Ratings Changes

AXL has been the subject of a number of research analyst reports. UBS Group lowered their target price on American Axle & Manufacturing from $6.00 to $3.50 and set a "neutral" rating for the company in a report on Thursday, April 10th. StockNews.com lowered American Axle & Manufacturing from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Royal Bank of Canada reissued a "sector perform" rating and set a $5.00 price target on shares of American Axle & Manufacturing in a research report on Wednesday, April 16th. TD Cowen assumed coverage on American Axle & Manufacturing in a research note on Friday, March 7th. They issued a "hold" rating and a $5.00 price objective for the company. Finally, Morgan Stanley lowered their price target on shares of American Axle & Manufacturing from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $6.25.

American Axle & Manufacturing 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.