Connor Clark & Lunn Investment Management Ltd. Sells 95,883 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 39.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,697 shares of the auto parts company’s stock after selling 95,883 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of American Axle & Manufacturing worth $900,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its stake in American Axle & Manufacturing by 45.3% during the third quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock valued at $2,380,000 after buying an additional 119,991 shares during the last quarter. Empowered Funds LLC boosted its stake in American Axle & Manufacturing by 5.4% during the third quarter. Empowered Funds LLC now owns 524,226 shares of the auto parts company’s stock valued at $3,240,000 after buying an additional 26,666 shares during the last quarter. KBC Group NV lifted its stake in shares of American Axle & Manufacturing by 81.3% in the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after purchasing an additional 3,211 shares during the last quarter. MQS Management LLC bought a new stake in shares of American Axle & Manufacturing in the 3rd quarter valued at approximately $207,000. Finally, Aigen Investment Management LP purchased a new position in shares of American Axle & Manufacturing in the 3rd quarter worth approximately $121,000. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Price Performance

Shares of AXL stock opened at $6.70 on Thursday. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.29 and a current ratio of 1.65. The stock has a 50 day moving average price of $6.20 and a 200 day moving average price of $6.64. The firm has a market capitalization of $787.79 million, a P/E ratio of 27.92 and a beta of 1.95. American Axle & Manufacturing Holdings, Inc. has a 52-week low of $5.43 and a 52-week high of $8.99.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.25. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. American Axle & Manufacturing’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) EPS. As a group, sell-side analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AXL shares. Bank of America lifted their target price on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. Finally, Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, American Axle & Manufacturing presently has an average rating of “Hold” and a consensus target price of $7.38.

American Axle & Manufacturing 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.