Principal Financial Group Inc. Has $4.59 Million Holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Principal Financial Group Inc. lessened its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXLFree Report) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 631,516 shares of the auto parts company’s stock after selling 34,070 shares during the quarter. Principal Financial Group Inc.’s holdings in American Axle & Manufacturing were worth $4,585,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AXL. UBS Asset Management Americas Inc. raised its position in shares of American Axle & Manufacturing by 0.9% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 128,704 shares of the auto parts company’s stock valued at $879,000 after acquiring an additional 1,196 shares during the period. Envestnet Asset Management Inc. raised its position in shares of American Axle & Manufacturing by 8.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 19,125 shares of the auto parts company’s stock valued at $131,000 after acquiring an additional 1,469 shares during the period. ProShare Advisors LLC raised its position in shares of American Axle & Manufacturing by 9.0% in the 2nd quarter. ProShare Advisors LLC now owns 17,912 shares of the auto parts company’s stock valued at $148,000 after acquiring an additional 1,482 shares during the period. Captrust Financial Advisors raised its position in shares of American Axle & Manufacturing by 11.7% in the 2nd quarter. Captrust Financial Advisors now owns 14,395 shares of the auto parts company’s stock valued at $108,000 after acquiring an additional 1,505 shares during the period. Finally, Guggenheim Capital LLC raised its position in shares of American Axle & Manufacturing by 15.0% in the 1st quarter. Guggenheim Capital LLC now owns 12,212 shares of the auto parts company’s stock valued at $95,000 after acquiring an additional 1,594 shares during the period. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Price Performance

NYSE AXL opened at $8.19 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 4.62. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $6.29 and a 12-month high of $10.12. The company has a market capitalization of $958.72 million, a PE ratio of -818.18, a price-to-earnings-growth ratio of 5.06 and a beta of 2.28. The firm’s 50 day moving average is $8.10 and its 200-day moving average is $7.69.

Wall Street Analysts Forecast Growth

AXL has been the topic of a number of analyst reports. TheStreet downgraded shares of American Axle & Manufacturing from a “c” rating to a “d+” rating in a research report on Friday, November 3rd. Bank of America downgraded shares of American Axle & Manufacturing from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $9.00 to $8.00 in a report on Tuesday, November 28th. Royal Bank of Canada dropped their target price on shares of American Axle & Manufacturing from $8.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, November 6th. UBS Group downgraded shares of American Axle & Manufacturing from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $8.00 to $6.50 in a report on Wednesday, January 17th. Finally, Citigroup dropped their target price on shares of American Axle & Manufacturing from $9.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.83.

Read Our Latest Research Report on AXL

About American Axle & Manufacturing

(Free Report)

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

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