Bank of New York Mellon Corp Raises Stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Bank of New York Mellon Corp grew its stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 6.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 811,481 shares of the auto parts company’s stock after acquiring an additional 52,142 shares during the period. Bank of New York Mellon Corp’s holdings in American Axle & Manufacturing were worth $4,731,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. KBC Group NV increased its holdings in 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 buying an additional 3,211 shares during the last quarter. XTX Topco Ltd purchased a new stake in American Axle & Manufacturing in the third quarter valued at approximately $62,000. Zacks Investment Management purchased a new stake in American Axle & Manufacturing in the 3rd quarter valued at $70,000. Quarry LP raised its holdings in shares of 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 during the last quarter. Finally, Paloma Partners Management Co acquired a new position in American Axle & Manufacturing in the 3rd quarter valued at $80,000. 91.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXL has been the subject of several recent analyst reports. StockNews.com cut American Axle & Manufacturing from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Cowen initiated coverage on shares of American Axle & Manufacturing in a research note on Thursday, March 6th. They set a “hold” rating for the company. Barclays reduced their target price on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. TD Cowen initiated coverage on shares of American Axle & Manufacturing in a research note on Friday, March 7th. They set a “hold” rating and a $5.00 price objective for the company. Finally, Morgan Stanley lowered their price target on American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.69.

American Axle & Manufacturing Stock Up 1.0 %

AXL opened at $4.55 on Tuesday. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.63 and a quick ratio of 1.25. The company has a market capitalization of $534.41 million, a PE ratio of 16.23 and a beta of 1.85. The business has a 50-day moving average of $5.26 and a 200-day moving average of $5.86. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $4.39 and a fifty-two week high of $7.98.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, meeting 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 the consensus estimate of $1.39 billion. During the same quarter in the previous 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. Equities research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS 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.