Whitebox Advisors LLC Purchases 389,760 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Whitebox Advisors LLC raised its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 38.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,415,173 shares of the auto parts company’s stock after buying an additional 389,760 shares during the period. Whitebox Advisors LLC owned about 1.20% of American Axle & Manufacturing worth $8,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC bought a new position in American Axle & Manufacturing in the 2nd quarter worth about $41,000. KBC Group NV lifted its holdings in shares of American Axle & Manufacturing by 81.3% in the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock worth $44,000 after buying an additional 3,211 shares during the period. Quarry LP grew its position in shares of American Axle & Manufacturing by 159.2% during the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock worth $55,000 after buying an additional 4,851 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of American Axle & Manufacturing in the 2nd quarter worth approximately $75,000. Finally, Creative Planning purchased a new position in American Axle & Manufacturing during the third quarter valued at approximately $80,000. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AXL shares. Wolfe Research raised American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. Finally, Bank of America increased their target price on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.38.

American Axle & Manufacturing Price Performance

NYSE:AXL opened at $6.67 on Friday. The company has a 50 day moving average price of $6.28 and a 200-day moving average price of $6.60. American Axle & Manufacturing Holdings, Inc. has a 1-year low of $5.43 and a 1-year high of $8.99. The firm has a market cap of $784.26 million, a price-to-earnings ratio of 27.79 and a beta of 1.95. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.65 and a quick ratio of 1.29.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.25. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm posted ($0.11) EPS. American Axle & Manufacturing’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.47 EPS for the current year.

About American Axle & Manufacturing

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.