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

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 3,690,000 shares, a drop of 7.3% from the August 15th total of 3,980,000 shares. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund Corp boosted its position in American Axle & Manufacturing by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 102,451 shares of the auto parts company’s stock valued at $754,000 after buying an additional 1,370 shares during the period. ProShare Advisors LLC grew its stake in American Axle & Manufacturing by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock worth $170,000 after purchasing an additional 1,582 shares in the last quarter. QRG Capital Management Inc. grew its stake in American Axle & Manufacturing by 13.5% during the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock worth $98,000 after purchasing an additional 1,665 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in American Axle & Manufacturing by 2.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 84,592 shares of the auto parts company’s stock worth $591,000 after purchasing an additional 2,066 shares during the period. Finally, Xponance Inc. raised its position in American Axle & Manufacturing by 18.2% in the 2nd quarter. Xponance Inc. now owns 18,225 shares of the auto parts company’s stock valued at $127,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 target price on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. Bank of America raised their price objective on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a research report on Monday, August 12th. Finally, Wolfe Research raised shares of American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.58.

American Axle & Manufacturing Stock Down 0.9 %

American Axle & Manufacturing stock opened at $6.08 on Thursday. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.30 and a current ratio of 1.68. The firm has a 50 day moving average price of $6.52 and a 200 day moving average price of $6.98. American Axle & Manufacturing has a fifty-two week low of $5.43 and a fifty-two week high of $8.99. The company has a market capitalization of $714.13 million, a PE ratio of -86.79 and a beta of 1.95.

American Axle & Manufacturing (NYSE:AXL) last posted its earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.08. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. American Axle & Manufacturing’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Research analysts expect that American Axle & Manufacturing will post 0.34 earnings per share 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.