Public Sector Pension Investment Board Sells 9,200 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Public Sector Pension Investment Board lowered its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 3.6% in the 3rd quarter, Holdings Channel reports. The firm owned 249,455 shares of the auto parts company’s stock after selling 9,200 shares during the period. Public Sector Pension Investment Board’s holdings in American Axle & Manufacturing were worth $1,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXL. nVerses Capital LLC purchased a new position in American Axle & Manufacturing in the 2nd quarter worth about $41,000. KBC Group NV raised its holdings in shares of American Axle & Manufacturing by 81.3% during the third quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after purchasing an additional 3,211 shares during the last quarter. Quarry LP lifted its position in American Axle & Manufacturing by 159.2% during the second quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 4,851 shares during the period. Headlands Technologies LLC purchased a new stake in American Axle & Manufacturing in the second quarter worth approximately $75,000. Finally, Creative Planning bought a new stake in American Axle & Manufacturing in the 3rd quarter worth approximately $80,000. 91.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AXL shares. Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 target price on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. Finally, Bank of America upped their price target on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Axle & Manufacturing presently has an average rating of “Hold” and a consensus target price of $7.38.

American Axle & Manufacturing Stock Performance

Shares of AXL opened at $6.63 on Friday. American Axle & Manufacturing Holdings, Inc. has a 52 week low of $5.43 and a 52 week high of $8.99. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28. The stock has a market cap of $779.56 million, a price-to-earnings ratio of 27.63 and a beta of 1.95. The business has a 50-day simple moving average of $6.28 and a two-hundred day simple moving average of $6.59.

American Axle & Manufacturing (NYSE:AXL) last released its earnings results on Friday, November 8th. The auto parts company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.25. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.11) EPS. On average, analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.47 EPS for the current year.

American Axle & Manufacturing Profile

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.