American Axle & Manufact. Holdings (AXL) reported quarterly earnings results on Friday, Jul-29-2016. The company said it had a profit of $0.90 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.81. The company posted revenue of $1025.40 million in the period, compared to analysts expectations of $1027.52 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.
Many Wall Street Analysts have commented on American Axle & Manufact. Holdings. American Axle & Manufact. Holdings was Downgraded by BofA/Merrill to ” Neutral” on Jun 21, 2016.
American Axle & Manufact. Holdings closed down -0.7 points or -4.04% at $16.63 with 23,00,539 shares getting traded on Thursday. Post opening the session at $16.88, the shares hit an intraday low of $16.02 and an intraday high of $16.9 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 24, 2016, Michael Joseph Lynch (VP Drvlne Bus Perf & Cost Mgmt) sold 5,531 shares at $15.00 per share price. According to the SEC, on May 18, 2016, David A Culton (VP Cost Engineering-Full Frame) sold 6,776 shares at $15.55 per share price. On Mar 15, 2016, Alberto L Satine (President Driveline) sold 16,000 shares at $14.85 per share price, according to the Form-4 filing with the securities and exchange commission.
American Axle & Manufacturing Holdings Inc. is an automotive supplier. The Company manufactures engineers designs and validates driveline and drivetrain systems and related components and chassis modules. The Company provides these components for light trucks sport utility vehicles (SUVs) passenger cars crossover vehicles and commercial vehicles. Driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels. Its driveline drivetrain and related products include axles driveheads chassis modules driveshafts power transfer units transfer cases chassis and steering components transmission parts electric drive systems and metal-formed products. The Companys technologies include PowerLite axles PowerDense gears and PowerFilm lubricant for passenger car light truck and AWD applications. It operates in 13 countries and has 37 manufacturing engineering and business office facilities across the world.