Renaissance Technologies LLC Reduces Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Renaissance Technologies LLC lowered its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 35.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 762,599 shares of the auto parts company's stock after selling 422,900 shares during the period. Renaissance Technologies LLC owned approximately 0.65% of American Axle & Manufacturing worth $5,331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of AXL. nVerses Capital LLC acquired a new position in shares of American Axle & Manufacturing in the 2nd quarter valued at about $41,000. Headlands Technologies LLC acquired a new position in American Axle & Manufacturing in the second quarter valued at approximately $75,000. EntryPoint Capital LLC purchased a new stake in American Axle & Manufacturing in the 1st quarter worth approximately $76,000. QRG Capital Management Inc. grew its stake in shares of American Axle & Manufacturing by 13.5% during the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company's stock worth $98,000 after purchasing an additional 1,665 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of American Axle & Manufacturing by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company's stock valued at $170,000 after purchasing an additional 1,582 shares in the last quarter. Institutional investors and hedge funds own 91.41% of the company's stock.

American Axle & Manufacturing Price Performance

Shares of NYSE:AXL traded up $0.20 during midday trading on Friday, hitting $6.38. The company had a trading volume of 2,813,385 shares, compared to its average volume of 1,574,952. The business's 50-day simple moving average is $6.39 and its 200-day simple moving average is $6.95. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.68 and a quick ratio of 1.30. The stock has a market cap of $749.99 million, a price-to-earnings ratio of -91.14 and a beta of 1.95. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $5.43 and a twelve month high of $8.99.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last posted its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the firm posted $0.12 earnings per share. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AXL has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $6.00 price target on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. Wolfe Research upgraded American Axle & Manufacturing to a "hold" rating in a research report on Wednesday, September 4th. Finally, Bank of America lifted their price target on American Axle & Manufacturing from $7.00 to $7.50 and gave the company an "underperform" rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $7.58.

About American Axle & Manufacturing

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.