Shell Asset Management Co. Sells 6,746 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Shell Asset Management Co. lessened its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Get Rating) by 12.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 45,604 shares of the auto parts company’s stock after selling 6,746 shares during the period. Shell Asset Management Co.’s holdings in American Axle & Manufacturing were worth $354,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AXL. Sequoia Financial Advisors LLC bought a new position in shares of American Axle & Manufacturing in the fourth quarter worth about $24,309,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of American Axle & Manufacturing by 21.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,370,233 shares of the auto parts company’s stock worth $12,784,000 after acquiring an additional 242,251 shares during the period. Yousif Capital Management LLC bought a new position in shares of American Axle & Manufacturing in the fourth quarter worth about $985,000. MidWestOne Financial Group Inc. boosted its stake in shares of American Axle & Manufacturing by 8.5% in the fourth quarter. MidWestOne Financial Group Inc. now owns 123,593 shares of the auto parts company’s stock worth $1,153,000 after acquiring an additional 9,647 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of American Axle & Manufacturing by 18.8% in the fourth quarter. Citigroup Inc. now owns 129,959 shares of the auto parts company’s stock worth $1,213,000 after acquiring an additional 20,523 shares during the period. Institutional investors own 91.73% of the company’s stock.

American Axle & Manufacturing Trading Up 8.6 %

Shares of AXL stock opened at $9.23 on Friday. American Axle & Manufacturing Holdings, Inc. has a 1 year low of $6.36 and a 1 year high of $10.91. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.77 and a quick ratio of 1.41. The stock’s 50 day simple moving average is $8.27 and its two-hundred day simple moving average is $7.89. The company has a market cap of $1.06 billion, a PE ratio of -31.83, a price-to-earnings-growth ratio of 1.28 and a beta of 2.13.

American Axle & Manufacturing (NYSE:AXL – Get Rating) last issued its quarterly earnings data on Friday, May 6th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AXL shares. BNP Paribas assumed coverage on American Axle & Manufacturing in a research note on Monday, April 11th. They issued a “neutral” rating and a $7.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their target price on American Axle & Manufacturing from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, April 21st. StockNews.com upgraded American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Friday, June 3rd. Morgan Stanley decreased their target price on American Axle & Manufacturing from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Finally, Barclays decreased their target price on American Axle & Manufacturing from $6.00 to $5.00 in a research report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.80.

American Axle & Manufacturing Company 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.