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

Readystate Asset Management LP cut 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 SEC. The institutional investor owned 226,093 shares of the auto parts company’s stock after selling 74,887 shares during the period. Readystate Asset Management LP’s holdings in American Axle & Manufacturing were worth $1,359,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Whitebox Advisors LLC lifted its holdings in American Axle & Manufacturing by 23.0% during the second quarter. Whitebox Advisors LLC now owns 5,599,014 shares of the auto parts company’s stock worth $22,844,000 after buying an additional 1,047,820 shares during the period. American Century Companies Inc. raised its position in shares of American Axle & Manufacturing by 6.9% in the 2nd quarter. American Century Companies Inc. now owns 4,578,385 shares of the auto parts company’s stock worth $18,680,000 after acquiring an additional 294,805 shares in the last quarter. Geode Capital Management LLC raised its position in shares of American Axle & Manufacturing by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,752,266 shares of the auto parts company’s stock worth $11,232,000 after acquiring an additional 23,783 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of American Axle & Manufacturing by 615.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,879,668 shares of the auto parts company’s stock worth $7,669,000 after purchasing an additional 1,617,069 shares during the last quarter. Finally, Millennium Management LLC boosted its position in American Axle & Manufacturing by 77.9% during the first quarter. Millennium Management LLC now owns 1,550,521 shares of the auto parts company’s stock valued at $6,311,000 after purchasing an additional 679,042 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Stock Up 11.6%

NYSE:AXL opened at $9.18 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.43 and a debt-to-equity ratio of 3.61. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $3.00 and a twelve month high of $9.00. The company has a market cap of $1.09 billion, a PE ratio of 27.80 and a beta of 1.60. The company’s 50 day moving average is $7.64 and its two-hundred day moving average is $6.57.

Analysts Set New Price Targets

A number of equities analysts have commented on AXL shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Axle & Manufacturing in a report on Monday, December 29th. BWS Financial assumed coverage on shares of American Axle & Manufacturing in a research report on Tuesday, January 27th. They issued a “buy” rating and a $17.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of American Axle & Manufacturing from $9.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Wall Street Zen upgraded shares of American Axle & Manufacturing from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. Finally, Stifel Nicolaus lifted their price target on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.92.

About American Axle & Manufacturing

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.