Assenagon Asset Management SA Has $539,000 Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)



Assenagon Asset Management SA cut its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Get Rating) by 83.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 69,397 shares of the auto parts company’s stock after selling 340,981 shares during the quarter. Assenagon Asset Management SA owned about 0.06% of American Axle & Manufacturing worth $539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AXL. First Quadrant LLC CA acquired a new position in shares of American Axle & Manufacturing in the 1st quarter valued at approximately $37,000. Zhang Financial LLC acquired a new position in shares of American Axle & Manufacturing in the 1st quarter valued at approximately $94,000. Highland Capital Management LLC acquired a new position in shares of American Axle & Manufacturing in the 4th quarter valued at approximately $123,000. CIBC Asset Management Inc grew its position in shares of American Axle & Manufacturing by 14.3% in the 4th quarter. CIBC Asset Management Inc now owns 15,249 shares of the auto parts company’s stock valued at $142,000 after purchasing an additional 1,907 shares during the period. Finally, Versor Investments LP acquired a new position in shares of American Axle & Manufacturing in the 4th quarter valued at approximately $145,000. 91.73% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Trading Up 5.7%

Shares of American Axle & Manufacturing stock opened at $7.92 on Monday. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $6.36 and a 12-month high of $10.91. The stock has a market cap of $906.73 million, a P/E ratio of -27.31, a P/E/G ratio of 1.16 and a beta of 2.12. The company has a quick ratio of 1.41, a current ratio of 1.77 and a debt-to-equity ratio of 6.32. The business’s 50 day moving average is $7.80 and its 200-day moving average is $8.00.

American Axle & Manufacturing (NYSE:AXL – Get Rating) last announced its quarterly earnings data on Friday, May 6th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. American Axle & Manufacturing had a positive return on equity of 14.39% and a negative net margin of 0.61%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the business posted $0.57 EPS. The business’s revenue was up .8% compared to the same quarter last year. Equities research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on AXL. Deutsche Bank Aktiengesellschaft decreased their objective price on American Axle & Manufacturing from $10.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, April 21st. StockNews.com raised American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Friday, June 3rd. BNP Paribas started coverage on American Axle & Manufacturing in a research report on Monday, April 11th. They set a “neutral” rating and a $7.00 price target for the company. Exane BNP Paribas started coverage on American Axle & Manufacturing in a research report on Monday, April 11th. They set a “neutral” rating for the company. Finally, Citigroup reduced their price target on American Axle & Manufacturing from $9.00 to $8.00 in a research report on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.80.

American Axle & Manufacturing Profile

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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.

Further Reading

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



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