State Street Corp Acquires 23,538 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

State Street Corp raised its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,704,889 shares of the auto parts company’s stock after purchasing an additional 23,538 shares during the quarter. State Street Corp’s holdings in American Axle & Manufacturing were worth $29,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised 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 grew its stake in American Axle & Manufacturing by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,873,408 shares of the auto parts company’s stock worth $41,055,000 after buying an additional 64,546 shares during the last quarter. American Century Companies Inc. grew its stake in American Axle & Manufacturing by 16.1% during 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 buying an additional 399,616 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of American Axle & Manufacturing by 2.6% in 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 acquiring an additional 65,535 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in American Axle & Manufacturing by 31.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,273,917 shares of the auto parts company’s stock valued at $14,053,000 after purchasing an additional 548,860 shares during the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.

American Axle & Manufacturing Stock Performance

Shares of AXL stock opened at $5.78 on Friday. The stock has a 50-day moving average of $6.34 and a 200-day moving average of $6.51. American Axle & Manufacturing Holdings, Inc. has a one year low of $5.43 and a one year high of $8.99. The stock has a market cap of $679.62 million, a PE ratio of 24.08 and a beta of 1.95. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.65 and a quick ratio of 1.29.

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, topping analysts’ consensus estimates of ($0.05) by $0.25. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm posted ($0.11) earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.47 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. Wolfe Research raised shares of American Axle & Manufacturing to a “hold” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, American Axle & Manufacturing has a consensus rating of “Hold” and an average target price of $7.38.

About American Axle & Manufacturing

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.