Mirae Asset Global Investments Co. Ltd. Has $661,000 Stock Holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 6.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 103,565 shares of the auto parts company’s stock after selling 7,208 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in American Axle & Manufacturing were worth $661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sona Asset Management US LLC bought a new position in American Axle & Manufacturing in the first quarter valued at about $7,102,000. Algert Global LLC boosted its stake in shares of American Axle & Manufacturing by 263.9% in the 2nd quarter. Algert Global LLC now owns 698,364 shares of the auto parts company’s stock valued at $4,882,000 after purchasing an additional 506,476 shares in the last quarter. Whitebox Advisors LLC increased its position in American Axle & Manufacturing by 74.7% during the 1st quarter. Whitebox Advisors LLC now owns 1,095,642 shares of the auto parts company’s stock worth $8,064,000 after purchasing an additional 468,573 shares in the last quarter. American Century Companies Inc. lifted its stake in American Axle & Manufacturing by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 2,889,357 shares of the auto parts company’s stock valued at $20,197,000 after purchasing an additional 399,616 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in American Axle & Manufacturing by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,268,651 shares of the auto parts company’s stock valued at $57,797,000 after purchasing an additional 236,423 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AXL shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. Finally, Bank of America boosted their price target on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.10.

American Axle & Manufacturing Stock Performance

NYSE AXL opened at $5.76 on Friday. The company has a market capitalization of $677.26 million, a price-to-earnings ratio of 576.58 and a beta of 1.94. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $5.43 and a twelve month high of $8.99. The stock has a fifty day simple moving average of $6.10 and a 200 day simple moving average of $6.77. The company has a quick ratio of 1.30, a current ratio of 1.68 and a debt-to-equity ratio of 4.42.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.08. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Sell-side analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.35 EPS for the current year.

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.