American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Shares Sold by Shell Asset Management Co.

Posted by on Aug 6th, 2022

Shell Asset Management Co. decreased its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Get Rating) by 12.9% in the first quarter, Holdings Channel reports. The firm owned 45,604 shares of the auto parts company’s stock after selling 6,746 shares during the period. Shell Asset Management Co.’s holdings in American Axle & Manufacturing were worth $354,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AXL. Allspring Global Investments Holdings LLC acquired a new stake in shares of American Axle & Manufacturing in the 4th quarter worth $1,289,000. Yousif Capital Management LLC purchased a new position in American Axle & Manufacturing in the 4th quarter worth $985,000. Qube Research & Technologies Ltd purchased a new position in American Axle & Manufacturing in the 4th quarter worth $305,000. Assenagon Asset Management S.A. raised its stake in American Axle & Manufacturing by 120.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 410,378 shares of the auto parts company’s stock worth $3,829,000 after acquiring an additional 224,058 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in American Axle & Manufacturing by 12.5% in the 4th quarter. New York State Common Retirement Fund now owns 1,319,150 shares of the auto parts company’s stock worth $12,308,000 after acquiring an additional 146,148 shares during the last quarter. Institutional investors and hedge funds own 91.73% of the company’s stock.

American Axle & Manufacturing Trading Up 8.6 %

AXL stock opened at $9.23 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.41 and a debt-to-equity ratio of 6.32. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $6.36 and a 12-month high of $10.91. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -31.83, a PEG ratio of 1.28 and a beta of 2.13. The business’s 50-day moving average is $8.27 and its 200 day moving average is $7.89.

American Axle & Manufacturing (NYSE:AXL – Get Rating) last posted its quarterly earnings data on Friday, May 6th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.20. American Axle & Manufacturing had a positive return on equity of 14.39% and a negative net margin of 0.61%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm posted $0.57 EPS. American Axle & Manufacturing’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

AXL has been the subject of a number of research analyst reports. Exane BNP Paribas initiated coverage on American Axle & Manufacturing in a research note on Monday, April 11th. They issued a “neutral” rating for the company. Barclays reduced their target price on American Axle & Manufacturing from $6.00 to $5.00 in a research note on Tuesday, May 10th. BNP Paribas initiated coverage on American Axle & Manufacturing in a research note on Monday, April 11th. They set a “neutral” rating and a $7.00 price objective for the company. Morgan Stanley reduced their price objective on American Axle & Manufacturing from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on American Axle & Manufacturing from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, April 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, American Axle & Manufacturing presently has an average rating of “Hold” and a consensus price target of $7.80.

About American Axle & Manufacturing

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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 in the United States, Mexico, South America, China, other Asian countries, and Europe.

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Institutional Ownership by Quarter for American Axle & Manufacturing (NYSE:AXL)

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