HITE Hedge Asset Management LLC Makes New Investment in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

HITE Hedge Asset Management LLC purchased a new stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) during the 4th quarter, Holdings Channel reports. The fund purchased 344,156 shares of the auto parts company’s stock, valued at approximately $2,006,000.

Several other large investors have also modified their holdings of AXL. XTX Topco Ltd purchased a new stake in American Axle & Manufacturing in the 3rd quarter valued at approximately $62,000. Cibc World Markets Corp purchased a new stake in shares of American Axle & Manufacturing in the fourth quarter valued at $63,000. Polymer Capital Management US LLC purchased a new stake in shares of American Axle & Manufacturing in the fourth quarter valued at $77,000. AXQ Capital LP acquired a new stake in shares of American Axle & Manufacturing during the fourth quarter valued at $77,000. Finally, Virtu Financial LLC purchased a new stake in American Axle & Manufacturing during the 4th quarter worth about $89,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. TD Cowen assumed 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 target on the stock. Morgan Stanley lowered their target price on shares of American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. UBS Group reduced their price target on American Axle & Manufacturing from $6.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada restated a “sector perform” rating and set a $5.00 price objective on shares of American Axle & Manufacturing in a report on Wednesday. Finally, Cowen began coverage on American Axle & Manufacturing in a research note on Thursday, March 6th. They issued a “hold” rating for the company. 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 stock. According to data from MarketBeat.com, American Axle & Manufacturing has a consensus rating of “Hold” and an average target price of $6.25.

American Axle & Manufacturing Price Performance

AXL stock opened at $3.33 on Friday. The company has a market cap of $393.46 million, a PE ratio of 11.88 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. The stock has a 50-day moving average price of $4.38 and a two-hundred day moving average price of $5.47. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $3.00 and a 12-month high of $7.98.

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

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.