American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Sees Large Drop in Short Interest

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 4,530,000 shares, a drop of 9.9% from the November 15th total of 5,030,000 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average trading volume of 1,610,000 shares, the short-interest ratio is currently 2.8 days.

Institutional Trading of American Axle & Manufacturing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its stake in shares of American Axle & Manufacturing by 45.3% during the third quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock worth $2,380,000 after purchasing an additional 119,991 shares during the last quarter. Assenagon Asset Management S.A. raised its position in American Axle & Manufacturing by 540.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock worth $1,233,000 after buying an additional 168,348 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of American Axle & Manufacturing by 84.0% in the 2nd quarter. Federated Hermes Inc. now owns 219,509 shares of the auto parts company’s stock worth $1,534,000 after acquiring an additional 100,231 shares during the period. Quest Partners LLC lifted its stake in shares of American Axle & Manufacturing by 3,849.5% in the 2nd quarter. Quest Partners LLC now owns 166,907 shares of the auto parts company’s stock worth $1,167,000 after acquiring an additional 162,681 shares during the period. Finally, FMR LLC boosted its holdings in shares of American Axle & Manufacturing by 25.8% in the third quarter. FMR LLC now owns 511,378 shares of the auto parts company’s stock valued at $3,160,000 after acquiring an additional 104,936 shares in the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wolfe Research raised shares of American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 target price on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.38.

American Axle & Manufacturing Stock Performance

NYSE AXL traded down $0.08 on Tuesday, reaching $6.29. The stock had a trading volume of 1,264,030 shares, compared to its average volume of 1,567,680. The stock has a market cap of $739.58 million, a P/E ratio of 26.21 and a beta of 1.95. American Axle & Manufacturing has a 12-month low of $5.43 and a 12-month high of $8.99. The business’s 50-day moving average price is $6.35 and its 200 day moving average price is $6.54. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.29 and a current ratio of 1.65.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.25. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the firm earned ($0.11) EPS. American Axle & Manufacturing’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities analysts expect that American Axle & Manufacturing will post 0.47 earnings per share for the current year.

American Axle & Manufacturing Company Profile

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.