American Century Companies Inc. Purchases 426,933 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

American Century Companies Inc. lifted its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,856,509 shares of the auto parts company’s stock after buying an additional 426,933 shares during the period. American Century Companies Inc. owned about 3.28% of American Axle & Manufacturing worth $22,483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. XTX Topco Ltd bought a new position in American Axle & Manufacturing in the 3rd quarter valued at approximately $62,000. Cibc World Markets Corp purchased a new stake in shares of American Axle & Manufacturing during the fourth quarter valued at $63,000. Zacks Investment Management bought a new stake in American Axle & Manufacturing in the 3rd quarter worth about $70,000. Quarry LP increased its holdings in American Axle & Manufacturing by 51.9% in the 3rd quarter. Quarry LP now owns 11,997 shares of the auto parts company’s stock worth $74,000 after buying an additional 4,098 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in American Axle & Manufacturing during the 3rd quarter valued at about $80,000. Institutional investors own 91.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AXL shares. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price objective on shares of American Axle & Manufacturing in a report on Tuesday, February 18th. StockNews.com lowered shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. UBS Group dropped their price target on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Morgan Stanley reduced their price objective on American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Barclays dropped their target price on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.69.

American Axle & Manufacturing Stock Down 3.8 %

AXL stock opened at $4.15 on Monday. The business’s 50-day moving average price is $5.03 and its 200-day moving average price is $5.76. The stock has a market cap of $490.49 million, a P/E ratio of 14.80 and a beta of 1.85. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $4.08 and a twelve month high of $7.98. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 4.58.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share. On average, equities research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current year.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.