24,300 Shares in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,300 shares of the auto parts company’s stock, valued at approximately $170,000.

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in American Axle & Manufacturing during the 2nd quarter valued at $41,000. Headlands Technologies LLC bought a new stake in shares of American Axle & Manufacturing during the 2nd quarter worth about $75,000. EntryPoint Capital LLC acquired a new position in American Axle & Manufacturing in the 1st quarter valued at about $76,000. QRG Capital Management Inc. raised its holdings in American Axle & Manufacturing by 13.5% in the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after acquiring an additional 1,665 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in American Axle & Manufacturing during the second quarter worth approximately $108,000. Institutional investors and hedge funds own 91.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AXL shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. Bank of America raised their target price on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a report on Monday, August 12th. Finally, Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, American Axle & Manufacturing presently has a consensus rating of “Hold” and an average target price of $7.10.

American Axle & Manufacturing Price Performance

AXL stock opened at $6.12 on Tuesday. The firm’s 50-day moving average price is $6.28 and its two-hundred day moving average price is $6.93. The stock has a market capitalization of $718.84 million, a price-to-earnings ratio of -87.36 and a beta of 1.94. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $5.43 and a 12-month high of $8.99.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.34 earnings per share for the current year.

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.