Creative Planning Buys New Stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Creative Planning purchased a new position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,998 shares of the auto parts company’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sona Asset Management US LLC bought a new stake in shares of American Axle & Manufacturing in the 1st quarter worth about $7,102,000. Algert Global LLC grew its stake in American Axle & Manufacturing by 263.9% during the second quarter. Algert Global LLC now owns 698,364 shares of the auto parts company’s stock worth $4,882,000 after buying an additional 506,476 shares during the last quarter. Whitebox Advisors LLC increased its holdings in shares of American Axle & Manufacturing by 74.7% during the first quarter. Whitebox Advisors LLC now owns 1,095,642 shares of the auto parts company’s stock worth $8,064,000 after buying an additional 468,573 shares in 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 valued at $20,197,000 after acquiring an additional 399,616 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of American Axle & Manufacturing by 2.9% in the 2nd 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. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Stock Down 2.5 %

Shares of American Axle & Manufacturing stock opened at $6.54 on Wednesday. The business has a fifty day simple moving average of $6.08 and a 200 day simple moving average of $6.73. The stock has a market cap of $768.98 million, a PE ratio of 27.96 and a beta of 1.95. The company has a quick ratio of 1.30, a current ratio of 1.68 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 announced its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.25. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the company posted ($0.11) EPS. American Axle & Manufacturing’s revenue for the quarter was down 3.0% on a year-over-year basis. Research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.35 EPS for the current year.

Analyst Upgrades and Downgrades

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