State of Tennessee Department of Treasury Has $721,000 Stock Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

State of Tennessee Department of Treasury boosted its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 62.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 123,755 shares of the auto parts company’s stock after buying an additional 47,373 shares during the quarter. State of Tennessee Department of Treasury’s holdings in American Axle & Manufacturing were worth $721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Cibc World Markets Corp bought a new position in shares of American Axle & Manufacturing during the 4th quarter worth about $63,000. AXQ Capital LP acquired a new stake in American Axle & Manufacturing during the fourth quarter worth about $77,000. Polymer Capital Management US LLC bought a new position in American Axle & Manufacturing during the fourth quarter valued at about $77,000. Virtu Financial LLC acquired a new position in American Axle & Manufacturing in the 4th quarter valued at approximately $89,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of American Axle & Manufacturing in the 4th quarter worth approximately $122,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Stock Performance

NYSE AXL opened at $3.99 on Friday. The firm has a market cap of $472.15 million, a price-to-earnings ratio of 14.25 and a beta of 1.70. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. American Axle & Manufacturing Holdings, Inc. has a 1-year low of $3.00 and a 1-year high of $7.98. The company has a 50 day moving average of $4.01 and a 200-day moving average of $5.29.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, May 2nd. The auto parts company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. On average, equities analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AXL. Cowen initiated coverage on American Axle & Manufacturing in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Barclays dropped their price objective on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Morgan Stanley decreased their target price on shares of American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. UBS Group cut their price target on shares of American Axle & Manufacturing from $6.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, TD Cowen started coverage on 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.25.

About American Axle & Manufacturing

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.