American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Short Interest Down 7.3% in August

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 3,690,000 shares, a drop of 7.3% from the August 15th total of 3,980,000 shares. Approximately 3.3% of the company’s stock are short sold. Based on an average trading volume of 1,450,000 shares, the short-interest ratio is currently 2.5 days.

American Axle & Manufacturing Stock Down 0.9 %

American Axle & Manufacturing stock opened at $6.08 on Thursday. The stock has a 50 day moving average of $6.52 and a two-hundred day moving average of $6.98. American Axle & Manufacturing has a twelve month low of $5.43 and a twelve month high of $8.99. The stock has a market capitalization of $714.13 million, a price-to-earnings ratio of -86.79 and a beta of 1.95. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.08. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company earned $0.12 earnings per share. As a group, research analysts expect that American Axle & Manufacturing will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

AXL has been the subject of several research analyst reports. Bank of America upped their target price on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a report on Monday, August 12th. Wolfe Research raised American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price objective on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.58.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dana Investment Advisors Inc. increased its position in American Axle & Manufacturing by 8.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 940,409 shares of the auto parts company’s stock worth $6,573,000 after purchasing an additional 73,529 shares during the period. Quarry LP grew its holdings 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 worth $55,000 after acquiring an additional 4,851 shares during the period. Algert Global LLC raised its position in American Axle & Manufacturing by 263.9% in the second quarter. Algert Global LLC now owns 698,364 shares of the auto parts company’s stock worth $4,882,000 after acquiring an additional 506,476 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in American Axle & Manufacturing in the second quarter valued at $998,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of American Axle & Manufacturing during the 2nd quarter worth $170,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Company 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.