Readystate Asset Management LP Cuts Stock Position in American Axle & Manufacturing Holdings, Inc. $AXL

Readystate Asset Management LP decreased its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 24.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,093 shares of the auto parts company’s stock after selling 74,887 shares during the quarter. Readystate Asset Management LP owned about 0.19% of American Axle & Manufacturing worth $1,359,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of American Axle & Manufacturing by 81.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 180,685 shares of the auto parts company’s stock worth $1,086,000 after buying an additional 80,957 shares during the last quarter. Kailix Advisors LLC purchased a new stake in American Axle & Manufacturing during the third quarter valued at approximately $4,399,000. Public Sector Pension Investment Board lifted its stake in shares of American Axle & Manufacturing by 14.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 462,879 shares of the auto parts company’s stock valued at $2,782,000 after purchasing an additional 59,470 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of American Axle & Manufacturing by 4.9% in the 3rd quarter. Rhumbline Advisers now owns 359,553 shares of the auto parts company’s stock worth $2,161,000 after purchasing an additional 16,856 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of American Axle & Manufacturing by 267.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,383 shares of the auto parts company’s stock valued at $26,000 after purchasing an additional 3,191 shares during the last quarter. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Price Performance

Shares of AXL stock opened at $9.18 on Thursday. The company has a market capitalization of $1.09 billion, a P/E ratio of 27.80 and a beta of 1.60. The company’s 50-day simple moving average is $7.64 and its two-hundred day simple moving average is $6.57. American Axle & Manufacturing Holdings, Inc. has a one year low of $3.00 and a one year high of $9.00. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.77 and a quick ratio of 1.43.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of American Axle & Manufacturing from $9.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. UBS Group upped their price target on shares of American Axle & Manufacturing from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday, January 14th. Morgan Stanley set a $7.00 price objective on shares of American Axle & Manufacturing in a research report on Monday, December 8th. Weiss Ratings restated a “hold (c-)” rating on shares of American Axle & Manufacturing in a research report on Monday, December 29th. Finally, BWS Financial started coverage on American Axle & Manufacturing in a research note on Tuesday, January 27th. They set a “buy” rating and a $17.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.92.

American Axle & Manufacturing Profile

American Axle & Manufacturing Holdings, Inc (NYSE: AXL) is a global designer, engineer and manufacturer of driveline and drivetrain systems and components for light vehicles, commercial trucks and off-highway applications. The company’s core product portfolio includes axles, driveshafts, half-shafts, drive module assemblies and differential gears, as well as advanced metallic and composite structures for electric and hybrid vehicles. AAM’s capabilities also encompass system testing, rapid prototyping and precision machining to support both high-volume production and low-volume, specialty vehicle applications.

Founded in 1994 following the divestiture of the Detroit Axle Division of General Motors, American Axle & Manufacturing completed its initial public offering in 1998.