AQR Capital Management LLC Decreases Stock Position in American Axle & Manufact. Holdings, Inc. (NYSE:AXL)

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AQR Capital Management LLC reduced its position in American Axle & Manufact. Holdings, Inc. (NYSE:AXL) by 75.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 24,646 shares of the auto parts company’s stock after selling 75,508 shares during the period. AQR Capital Management LLC’s holdings in American Axle & Manufact. were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Advisors LLC grew its position in shares of American Axle & Manufact. by 1.2% in the second quarter. Boston Advisors LLC now owns 72,736 shares of the auto parts company’s stock valued at $928,000 after purchasing an additional 831 shares in the last quarter. Advisory Services Network LLC grew its position in shares of American Axle & Manufact. by 27.0% in the second quarter. Advisory Services Network LLC now owns 6,043 shares of the auto parts company’s stock valued at $77,000 after purchasing an additional 1,284 shares in the last quarter. Arizona State Retirement System grew its position in shares of American Axle & Manufact. by 1.2% in the second quarter. Arizona State Retirement System now owns 174,468 shares of the auto parts company’s stock valued at $2,226,000 after purchasing an additional 2,106 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of American Axle & Manufact. by 6.0% in the second quarter. Crossmark Global Holdings Inc. now owns 42,385 shares of the auto parts company’s stock valued at $541,000 after purchasing an additional 2,394 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of American Axle & Manufact. by 16.3% in the second quarter. Envestnet Asset Management Inc. now owns 18,263 shares of the auto parts company’s stock valued at $233,000 after purchasing an additional 2,553 shares in the last quarter.

NYSE:AXL opened at $7.93 on Friday. The firm has a market capitalization of $886.91 million, a price-to-earnings ratio of 2.42, a P/E/G ratio of 0.41 and a beta of 2.20. American Axle & Manufact. Holdings, Inc. has a 52-week low of $5.86 and a 52-week high of $17.20. The stock has a fifty day moving average of $7.44 and a 200 day moving average of $10.93. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.20 and a current ratio of 1.56.

American Axle & Manufact. (NYSE:AXL) last posted its quarterly earnings data on Friday, August 2nd. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.04). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.78 billion. American Axle & Manufact. had a negative net margin of 2.94% and a positive return on equity of 14.28%. American Axle & Manufact.’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. Equities analysts forecast that American Axle & Manufact. Holdings, Inc. will post 2.07 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the company. ValuEngine raised American Axle & Manufact. from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Barclays dropped their price objective on American Axle & Manufact. from $20.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Credit Suisse Group assumed coverage on American Axle & Manufact. in a research note on Wednesday, June 26th. They set an “outperform” rating and a $15.00 price objective for the company. Bank of America reissued a “buy” rating and set a $15.00 price objective on shares of American Axle & Manufact. in a research note on Tuesday, September 24th. Finally, TheStreet lowered American Axle & Manufact. from a “c-” rating to a “d+” rating in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.78.

American Axle & Manufact. Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products in the United States, Mexico, South America, China, other Asian countries, Europe, and internationally. The company's Driveline segment offers axles, drive shafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

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Institutional Ownership by Quarter for American Axle & Manufact. (NYSE:AXL)

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