10,759 Shares in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Acquired by Cibc World Markets Corp

Cibc World Markets Corp purchased a new stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) during the fourth quarter, Holdings Channel reports. The firm purchased 10,759 shares of the auto parts company’s stock, valued at approximately $63,000.

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of American Axle & Manufacturing by 0.5% in the 3rd quarter. State Street Corp now owns 4,704,889 shares of the auto parts company’s stock valued at $29,076,000 after purchasing an additional 23,538 shares in the last quarter. Geode Capital Management LLC lifted its holdings in American Axle & Manufacturing by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,654,883 shares of the auto parts company’s stock valued at $16,411,000 after purchasing an additional 21,054 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in American Axle & Manufacturing by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,562,553 shares of the auto parts company’s stock valued at $15,837,000 after buying an additional 65,535 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in American Axle & Manufacturing by 31.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,273,917 shares of the auto parts company’s stock worth $14,053,000 after buying an additional 548,860 shares during the last quarter. Finally, Whitebox Advisors LLC increased its holdings in shares of American Axle & Manufacturing by 38.0% during the third quarter. Whitebox Advisors LLC now owns 1,415,173 shares of the auto parts company’s stock worth $8,746,000 after buying an additional 389,760 shares in the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Stock Performance

American Axle & Manufacturing stock opened at $4.31 on Friday. The company has a market cap of $509.42 million, a PE ratio of 15.38 and a beta of 1.85. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. American Axle & Manufacturing Holdings, Inc. has a 1 year low of $4.20 and a 1 year high of $7.98. The company’s 50-day moving average is $5.06 and its two-hundred day moving average is $5.77.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) earnings per share 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 for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business posted ($0.09) earnings per share. American Axle & Manufacturing’s revenue was down 5.6% compared to the same quarter last year. Equities analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays reduced their target price 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 lowered American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 target price on shares of American Axle & Manufacturing in a research note on Tuesday, February 18th. Morgan Stanley reduced 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 research report on Monday, March 3rd. Finally, UBS Group lowered their price objective on shares of American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.69.

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.