American Axle & Manufacturing (NYSE:AXL) Trading Up 6.4% – Here’s Why

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s stock price shot up 6.4% on Tuesday . The company traded as high as $5.79 and last traded at $5.79. 798,055 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 1,532,972 shares. The stock had previously closed at $5.44.

American Axle & Manufacturing Price Performance

The stock has a 50-day moving average of $6.26 and a two-hundred day moving average of $6.35. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 4.28. The firm has a market cap of $685.50 million, a price-to-earnings ratio of 24.29 and a beta of 1.96.

American Axle & Manufacturing (NYSE:AXL) last issued 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 business 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. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. On average, analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.47 EPS for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

Institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV raised its position in American Axle & Manufacturing by 81.3% during the third quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after acquiring an additional 3,211 shares in the last quarter. Quarry LP raised its holdings 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 valued at $55,000 after purchasing an additional 4,851 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of American Axle & Manufacturing in the 3rd quarter valued at $62,000. Zacks Investment Management bought a new stake in American Axle & Manufacturing in the third quarter worth $70,000. Finally, Headlands Technologies LLC acquired a new position in American Axle & Manufacturing during the second quarter worth $75,000. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

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.