Empowered Funds LLC Purchases 26,666 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Empowered Funds LLC raised its position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 524,226 shares of the auto parts company’s stock after acquiring an additional 26,666 shares during the period. Empowered Funds LLC’s holdings in American Axle & Manufacturing were worth $3,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in American Axle & Manufacturing during the 2nd quarter valued at approximately $41,000. KBC Group NV boosted its position in shares of American Axle & Manufacturing by 81.3% in the third quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after acquiring an additional 3,211 shares during the period. Quarry LP grew its stake in shares of American Axle & Manufacturing by 159.2% in 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 last quarter. EntryPoint Capital LLC bought a new position in American Axle & Manufacturing during the first quarter worth $76,000. Finally, Headlands Technologies LLC acquired a new position in American Axle & Manufacturing during the 2nd quarter valued at $75,000. 91.41% of the stock is owned by institutional investors and hedge funds.

American Axle & Manufacturing Stock Performance

NYSE AXL opened at $6.19 on Tuesday. The stock has a market cap of $727.82 million, a P/E ratio of 26.29 and a beta of 1.95. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $5.43 and a twelve month high of $8.99. The company’s 50-day simple moving average is $6.11 and its 200 day simple moving average is $6.70.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.25. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.51 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. American Axle & Manufacturing’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) EPS. As a group, research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on AXL shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. Bank of America upped their price target on American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a report on Monday, August 12th. Finally, Wolfe Research raised American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, American Axle & Manufacturing currently has an average rating of “Hold” and a consensus target price of $7.38.

About American Axle & Manufacturing

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.