American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Stock Holdings Lowered by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lowered its position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXLGet Rating) by 8.5% in the 2nd quarter, Holdings Channel reports. The fund owned 54,688 shares of the auto parts company’s stock after selling 5,111 shares during the period. State Board of Administration of Florida Retirement System’s holdings in American Axle & Manufacturing were worth $412,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AXL. Meeder Asset Management Inc. bought a new position in shares of American Axle & Manufacturing during the first quarter worth about $45,000. Point72 Hong Kong Ltd grew its position in shares of American Axle & Manufacturing by 703.4% during the first quarter. Point72 Hong Kong Ltd now owns 8,886 shares of the auto parts company’s stock worth $69,000 after acquiring an additional 7,780 shares during the last quarter. KBC Group NV bought a new position in shares of American Axle & Manufacturing during the second quarter worth about $71,000. Keebeck Alpha LP bought a new position in shares of American Axle & Manufacturing during the first quarter worth about $100,000. Finally, Captrust Financial Advisors grew its position in shares of American Axle & Manufacturing by 20.5% during the first quarter. Captrust Financial Advisors now owns 12,890 shares of the auto parts company’s stock worth $100,000 after acquiring an additional 2,189 shares during the last quarter. Institutional investors own 95.20% of the company’s stock.

American Axle & Manufacturing Price Performance

Shares of NYSE AXL opened at $10.50 on Monday. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $6.36 and a twelve month high of $11.96. The company has a current ratio of 1.69, a quick ratio of 1.32 and a debt-to-equity ratio of 6.11. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 1,051.05, a PEG ratio of 1.59 and a beta of 2.23. The firm has a 50-day moving average of $8.57 and a two-hundred day moving average of $8.62.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AXL shares. Bank of America downgraded shares of American Axle & Manufacturing from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $13.00 in a report on Friday, September 9th. TheStreet raised shares of American Axle & Manufacturing from a “d+” rating to a “c-” rating in a report on Friday, August 5th. Citigroup reduced their price objective on shares of American Axle & Manufacturing from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, September 28th. Morgan Stanley upped their price objective on shares of American Axle & Manufacturing from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, August 11th. Finally, StockNews.com started coverage on shares of American Axle & Manufacturing in a report on Wednesday, October 12th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.08.

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.

See Also

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

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