Geode Capital Management LLC Acquires 21,054 Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Geode Capital Management LLC lifted its stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,654,883 shares of the auto parts company’s stock after buying an additional 21,054 shares during the quarter. Geode Capital Management LLC’s holdings in American Axle & Manufacturing were worth $16,411,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of American Axle & Manufacturing by 2.9% in 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 purchasing an additional 236,423 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted 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 valued at $41,055,000 after buying an additional 64,546 shares during the last quarter. State Street Corp grew its holdings 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 buying an additional 23,538 shares in the last quarter. American Century Companies Inc. increased its stake in American Axle & Manufacturing by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 2,889,357 shares of the auto parts company’s stock worth $20,197,000 after acquiring an additional 399,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of American Axle & Manufacturing by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,562,553 shares of the auto parts company’s stock worth $15,837,000 after acquiring an additional 65,535 shares in the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Stock Performance

American Axle & Manufacturing stock opened at $5.86 on Monday. American Axle & Manufacturing Holdings, Inc. has a 1-year low of $5.43 and a 1-year high of $8.98. The company’s 50-day moving average is $6.31 and its 200 day moving average is $6.45. The firm has a market capitalization of $689.02 million, a P/E ratio of 24.42 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 issued its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.25. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.51 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) earnings per share. Research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

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