American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Short Interest Update

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 4,440,000 shares, an increase of 9.6% from the October 15th total of 4,050,000 shares. Approximately 4.0% of the company’s shares are sold short. Based on an average trading volume of 1,590,000 shares, the short-interest ratio is presently 2.8 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in American Axle & Manufacturing by 540.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock valued at $1,233,000 after buying an additional 168,348 shares during the last quarter. Quest Partners LLC grew its holdings in shares of American Axle & Manufacturing by 3,849.5% in the second quarter. Quest Partners LLC now owns 166,907 shares of the auto parts company’s stock valued at $1,167,000 after acquiring an additional 162,681 shares in the last quarter. Federated Hermes Inc. increased its position in shares of American Axle & Manufacturing by 84.0% during the second quarter. Federated Hermes Inc. now owns 219,509 shares of the auto parts company’s stock valued at $1,534,000 after acquiring an additional 100,231 shares during the last quarter. Algert Global LLC lifted its holdings in American Axle & Manufacturing by 263.9% during the second quarter. Algert Global LLC now owns 698,364 shares of the auto parts company’s stock worth $4,882,000 after acquiring an additional 506,476 shares during the period. Finally, ProShare Advisors LLC boosted its position in American Axle & Manufacturing by 7.4% in the first 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 during the last quarter. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Stock Performance

NYSE AXL opened at $6.31 on Friday. 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 company has a fifty day simple moving average of $6.11 and a 200 day simple moving average of $6.71. American Axle & Manufacturing has a 12-month low of $5.43 and a 12-month high of $8.99. The company has a market cap of $741.94 million, a P/E ratio of 26.29 and a beta of 1.95.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.51 billion. During the same period last year, the company earned ($0.11) earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. Sell-side analysts predict that American Axle & Manufacturing will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AXL shares. Wolfe Research raised American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. Bank of America increased their price target on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price objective on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.38.

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.