Geode Capital Management LLC Boosts Stock Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Geode Capital Management LLC grew its stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,654,883 shares of the auto parts company’s stock after purchasing an additional 21,054 shares during the quarter. Geode Capital Management LLC owned about 2.26% of American Axle & Manufacturing worth $16,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in American Axle & Manufacturing by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 8,268,651 shares of the auto parts company’s stock worth $57,797,000 after acquiring an additional 236,423 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in American Axle & Manufacturing by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,873,408 shares of the auto parts company’s stock valued at $41,055,000 after acquiring an additional 64,546 shares in the last quarter. State Street Corp boosted its stake in American Axle & Manufacturing by 0.5% during the 3rd quarter. State Street Corp now owns 4,704,889 shares of the auto parts company’s stock valued at $29,076,000 after purchasing an additional 23,538 shares during the last quarter. American Century Companies Inc. raised its stake in shares of American Axle & Manufacturing by 16.1% in the second quarter. American Century Companies Inc. now owns 2,889,357 shares of the auto parts company’s stock worth $20,197,000 after purchasing an additional 399,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of American Axle & Manufacturing by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,562,553 shares of the auto parts company’s stock valued at $15,837,000 after purchasing an additional 65,535 shares in the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.

American Axle & Manufacturing Price Performance

NYSE AXL opened at $5.86 on Monday. 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 business’s fifty day moving average is $6.31 and its 200 day moving average is $6.45. The company has a market capitalization of $689.02 million, a PE ratio of 24.42 and a beta of 1.95. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $5.43 and a fifty-two week high of $8.98.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.25. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the company posted ($0.11) EPS. The firm’s revenue was down 3.0% on a year-over-year basis. Sell-side analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

AXL has been the subject of a number of research analyst reports. Wolfe Research upgraded shares of American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price objective on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.38.

American Axle & Manufacturing Company 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.