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

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 2,120,000 shares, a drop of 16.9% from the August 15th total of 2,550,000 shares. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is presently 1.7 days. Currently, 1.9% of the company’s stock are short sold.

American Axle & Manufacturing Price Performance

Shares of American Axle & Manufacturing stock traded down $0.19 during trading on Tuesday, hitting $7.21. 736,935 shares of the company’s stock traded hands, compared to its average volume of 1,121,334. American Axle & Manufacturing has a twelve month low of $6.61 and a twelve month high of $11.19. The company has a debt-to-equity ratio of 4.43, a current ratio of 1.71 and a quick ratio of 1.32. The company has a market cap of $844.00 million, a PE ratio of 20.56, a PEG ratio of 2.63 and a beta of 2.32. The firm’s fifty day moving average price is $8.14 and its 200 day moving average price is $7.80.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, August 4th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.59 billion. American Axle & Manufacturing had a return on equity of 6.07% and a net margin of 0.72%. American Axle & Manufacturing’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. Analysts forecast that American Axle & Manufacturing will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AXL. UBS Group started coverage on shares of American Axle & Manufacturing in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $9.00 price objective on the stock. StockNews.com lowered American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Friday.

Insider Buying and Selling at American Axle & Manufacturing

In related news, VP Terri M. Kemp sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $8.00, for a total transaction of $320,000.00. Following the completion of the sale, the vice president now directly owns 216,961 shares of the company’s stock, valued at approximately $1,735,688. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On American Axle & Manufacturing

Several institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC bought a new stake in American Axle & Manufacturing during the 1st quarter worth about $473,000. Tower Research Capital LLC TRC lifted its holdings in American Axle & Manufacturing by 136.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,246 shares of the auto parts company’s stock worth $33,000 after buying an additional 2,452 shares in the last quarter. Point72 Hong Kong Ltd boosted its holdings in American Axle & Manufacturing by 703.4% in the first quarter. Point72 Hong Kong Ltd now owns 8,886 shares of the auto parts company’s stock valued at $69,000 after acquiring an additional 7,780 shares during the last quarter. Pathstone Family Office LLC acquired a new stake in American Axle & Manufacturing in the third quarter worth about $72,000. Finally, SG Americas Securities LLC bought a new stake in American Axle & Manufacturing during the 1st quarter worth about $86,000. 91.41% of the stock is owned by institutional investors.

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 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.