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


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.