American Axle & Manufact. Holdings, Inc. (NYSE:AXL) Stock Dropped By 2.63%

759

Dallas, Texas 11/07/2013 (Financialstrend) – In Wednesday’s trading, American Axle & Manufact. Holdings, Inc. (NYSE:AXL) dropped by 2.63%. The opening price of the shares was $18.40, which climbed to an intraday high of $18.46 and dipped to a close of $17.79. Approximately 2.00 million shares were traded on Wednesday while an average volume of 1.90 million shares exchanged hands over a 30 day period. The 52-week low of American Axle & Manufact. Holdings, Inc. (NYSE:AXL) shares is $9.27 and its 52-week high is $21.41. The company has a market capitalization of $1.33 billion.                                        

About the company

American Axle & Manufact. Holdings, Inc. (NYSE:AXL) is engaged in the manufacture, engineering, designing and validation of driveline & drivetrain-systems and related components & chassis-modules for light trucks, SUV’s  passenger-cars, crossover vehicles & commercial vehicles. Driveline & drivetrain systems include the components that transfer-power from the transmission & deliver it to the drive-wheels. American Axle & Manufact. Holdings, Inc. (NYSE:AXL)’s driveline, drivetrain & related -products include chassis modules, axles, drive-shafts, power-transfer units, transfer-cases, chassis & steering components, drive-heads, transmission-parts and metal-formed products.

The company is a supplier of driveline-components to General Motors for the company’s rear-wheel drive light-trucks & SUVs that are manufactured in North America. It supplies all the GM’s rear-axle & front four-wheel drive & all-wheel drive axle requirements for all these vehicle-platforms.

In the year that ended 31 December 2011, sales to General Motors were around 73% of the company’s total net revenue. As of 31 December 2011, American Axle & Manufact. Holdings, Inc. (NYSE:AXL) operated across 13 countries 7 had 34 manufacturing, engineering & business-office facilities globally.

American Axle & Manufact. Holdings, Inc. (NYSE:AXL) is a supplier of driveline-system products for the Chrysler Group LLC’s heavy-duty Dodge-Ram full size pickup-trucks and their derivatives. In 2011, American Axle & Manufact. Holdings, Inc. (NYSE:AXL)’s sales to Chrysler were around 8% of the total net revenue.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.