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

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 4,530,000 shares, a decline of 9.9% from the November 15th total of 5,030,000 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average daily volume of 1,610,000 shares, the short-interest ratio is currently 2.8 days.

Institutional Investors Weigh In On American Axle & Manufacturing

A number of large investors have recently bought and sold shares of the stock. Barclays PLC raised its position in shares of American Axle & Manufacturing by 274.4% in the third quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock valued at $1,234,000 after buying an additional 146,430 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of American Axle & Manufacturing by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,654,883 shares of the auto parts company’s stock worth $16,411,000 after purchasing an additional 21,054 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of American Axle & Manufacturing during the third quarter worth $222,000. XTX Topco Ltd purchased a new stake in shares of American Axle & Manufacturing in the third quarter valued at $62,000. Finally, Zacks Investment Management acquired a new position in American Axle & Manufacturing in the third quarter valued at $70,000. Institutional investors and hedge funds own 91.41% of the company’s stock.

Analyst Upgrades and Downgrades

AXL has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price target on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. Wolfe Research raised shares of American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.38.

American Axle & Manufacturing Price Performance

Shares of NYSE:AXL traded down $0.08 during midday trading on Tuesday, hitting $6.29. 1,264,030 shares of the stock were exchanged, compared to its average volume of 1,567,680. The stock has a market cap of $739.58 million, a P/E ratio of 26.21 and a beta of 1.95. American Axle & Manufacturing has a twelve month low of $5.43 and a twelve month high of $8.99. The company has a 50 day moving average price of $6.35 and a 200-day moving average price of $6.54. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 4.28.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the business posted ($0.11) earnings per share. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, research analysts forecast that American Axle & Manufacturing will post 0.47 earnings per share for the current year.

American Axle & Manufacturing Company Profile

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.