Connor Clark & Lunn Investment Management Ltd. Decreases Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 33.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 97,567 shares of the auto parts company’s stock after selling 48,130 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in American Axle & Manufacturing were worth $569,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. KBC Group NV grew its stake in American Axle & Manufacturing by 81.3% during the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock worth $44,000 after purchasing an additional 3,211 shares in the last quarter. XTX Topco Ltd purchased a new position in American Axle & Manufacturing in the third quarter valued at $62,000. Zacks Investment Management acquired a new stake in American Axle & Manufacturing in the third quarter valued at $70,000. Quarry LP raised its stake in American Axle & Manufacturing by 51.9% in the third quarter. Quarry LP now owns 11,997 shares of the auto parts company’s stock valued at $74,000 after buying an additional 4,098 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in American Axle & Manufacturing during the 3rd quarter worth about $80,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on AXL shares. Cowen assumed coverage on shares of American Axle & Manufacturing in a research report on Thursday, March 6th. They set a “hold” rating for the company. TD Cowen began coverage on shares of American Axle & Manufacturing in a research note on Friday, March 7th. They issued a “hold” rating and a $5.00 price objective on the stock. StockNews.com downgraded shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. UBS Group reduced their target price on shares of American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, American Axle & Manufacturing has a consensus rating of “Hold” and an average target price of $6.69.

American Axle & Manufacturing Price Performance

Shares of NYSE AXL opened at $4.45 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. The company’s 50-day moving average price is $5.17 and its 200 day moving average price is $5.82. American Axle & Manufacturing Holdings, Inc. has a 52 week low of $4.38 and a 52 week high of $7.98. The stock has a market cap of $522.65 million, a price-to-earnings ratio of 15.88 and a beta of 1.85.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the company earned ($0.09) EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal 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.