Texas Permanent School Fund Corp Increases Stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Texas Permanent School Fund Corp raised its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 14.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,465 shares of the auto parts company’s stock after buying an additional 15,014 shares during the quarter. Texas Permanent School Fund Corp’s holdings in American Axle & Manufacturing were worth $821,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. nVerses Capital LLC acquired a new position in American Axle & Manufacturing during the second quarter worth about $41,000. EntryPoint Capital LLC acquired a new position in shares of American Axle & Manufacturing during the 1st quarter worth approximately $76,000. QRG Capital Management Inc. boosted its holdings in shares of American Axle & Manufacturing by 13.5% during the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock worth $98,000 after purchasing an additional 1,665 shares during the last quarter. ProShare Advisors LLC grew its position in shares of American Axle & Manufacturing by 7.4% in the first quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock valued at $170,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new stake in shares of American Axle & Manufacturing in the second quarter valued at approximately $185,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Price Performance

NYSE:AXL opened at $6.10 on Friday. American Axle & Manufacturing Holdings, Inc. has a 52 week low of $5.43 and a 52 week high of $8.99. The stock’s fifty day moving average is $6.48 and its two-hundred day moving average is $6.97. The company has a market capitalization of $717.07 million, a P/E ratio of -87.14 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 (NYSE:AXL) last issued its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.59 billion. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. American Axle & Manufacturing’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. Equities analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AXL shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price objective on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. Bank of America boosted their price target 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 upgraded shares of American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.58.

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.