Magnetar Financial LLC Boosts Holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Magnetar Financial LLC boosted its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 143.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 82,248 shares of the auto parts company’s stock after purchasing an additional 48,446 shares during the quarter. Magnetar Financial LLC’s holdings in American Axle & Manufacturing were worth $480,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

AXL has been the topic of several recent analyst reports. Royal Bank of Canada reiterated 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. TD Cowen began coverage on shares of American Axle & Manufacturing in a research report on Friday, March 7th. They set a “hold” rating and a $5.00 price objective on the stock. Cowen began coverage on shares of American Axle & Manufacturing in a research report on Thursday, March 6th. They set a “hold” rating on the stock. Morgan Stanley lowered their price objective 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, Barclays lowered their price objective on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.69.

American Axle & Manufacturing Price Performance

AXL stock opened at $4.45 on Friday. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.25 and a current ratio of 1.63. American Axle & Manufacturing Holdings, Inc. has a 52 week low of $4.38 and a 52 week high of $7.98. The firm’s fifty day moving average is $5.17 and its 200 day moving average is $5.82. The firm has a market cap of $522.65 million, a P/E ratio of 15.88 and a beta of 1.85.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The company’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. Research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current year.

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.