Public Employees Retirement Association of Colorado lowered its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Free Report) by 19.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,966 shares of the auto parts company’s stock after selling 3,594 shares during the period. Public Employees Retirement Association of Colorado’s holdings in American Axle & Manufacturing were worth $105,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in American Axle & Manufacturing during the 2nd quarter worth approximately $41,000. EntryPoint Capital LLC purchased a new stake in American Axle & Manufacturing during the 1st quarter worth approximately $76,000. Headlands Technologies LLC purchased a new stake in American Axle & Manufacturing during the 2nd quarter worth approximately $75,000. QRG Capital Management Inc. grew its position in 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 last quarter. Finally, Intech Investment Management LLC purchased a new stake in American Axle & Manufacturing during the 2nd quarter worth approximately $108,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.
American Axle & Manufacturing Stock Performance
Shares of NYSE AXL opened at $6.38 on Monday. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42. American Axle & Manufacturing Holdings, Inc. has a 12 month low of $5.43 and a 12 month high of $8.99. The company has a 50 day simple moving average of $6.38 and a two-hundred day simple moving average of $6.95. The stock has a market cap of $749.99 million, a price-to-earnings ratio of -91.14 and a beta of 1.95.
Analyst Ratings Changes
AXL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. Wolfe Research upgraded shares of American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. Finally, Bank of America lifted their price objective on shares of 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 analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, American Axle & Manufacturing currently has an average rating of “Hold” and a consensus price target of $7.10.
Read Our Latest Report on American Axle & Manufacturing
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.
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