BlackRock Inc. Acquires 407,526 Shares of American Axle & Manufacturing Holdings, Inc. (AXL)

BlackRock Inc. raised its holdings in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,085,793 shares of the auto parts company’s stock after purchasing an additional 407,526 shares during the period. BlackRock Inc. owned about 9.06% of American Axle & Manufacturing Holdings worth $157,338,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its stake in American Axle & Manufacturing Holdings by 6.2% during the first quarter. Public Employees Retirement System of Ohio now owns 6,538 shares of the auto parts company’s stock valued at $123,000 after purchasing an additional 380 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in American Axle & Manufacturing Holdings during the first quarter valued at $124,000. CIBC Asset Management Inc bought a new stake in American Axle & Manufacturing Holdings during the second quarter valued at $162,000. Invictus RG increased its stake in American Axle & Manufacturing Holdings by 22.2% during the first quarter. Invictus RG now owns 12,343 shares of the auto parts company’s stock valued at $232,000 after purchasing an additional 2,246 shares during the last quarter. Finally, AXA increased its stake in American Axle & Manufacturing Holdings by 24.8% during the first quarter. AXA now owns 12,600 shares of the auto parts company’s stock valued at $237,000 after purchasing an additional 2,500 shares during the last quarter.

In other American Axle & Manufacturing Holdings news, Director George Thanopoulos sold 125,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $15.03, for a total transaction of $1,878,750.00. Following the completion of the transaction, the director now directly owns 1,001,986 shares in the company, valued at $15,059,849.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) opened at 17.56 on Friday. The stock’s 50 day moving average is $16.18 and its 200 day moving average is $16.05. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 6.05 and a beta of 1.38. American Axle & Manufacturing Holdings, Inc. has a 52-week low of $12.61 and a 52-week high of $21.25.

American Axle & Manufacturing Holdings (NYSE:AXL) last released its quarterly earnings data on Friday, July 28th. The auto parts company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. American Axle & Manufacturing Holdings had a return on equity of 42.42% and a net margin of 5.32%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 71.4% compared to the same quarter last year. On average, analysts predict that American Axle & Manufacturing Holdings, Inc. will post $3.29 earnings per share for the current fiscal year.

Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of American Axle & Manufacturing Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. ValuEngine upgraded shares of American Axle & Manufacturing Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. BidaskClub lowered shares of American Axle & Manufacturing Holdings from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. CLSA began coverage on shares of American Axle & Manufacturing Holdings in a research report on Thursday, June 22nd. They set a “buy” rating and a $18.00 price target for the company. Finally, KeyCorp restated a “hold” rating on shares of American Axle & Manufacturing Holdings in a research report on Sunday, September 17th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $19.44.

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American Axle & Manufacturing Holdings Profile

American Axle & Manufacturing Holdings, Inc (AAM) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles, crossover vehicles, passenger cars and commercial vehicles. Its driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels.

Institutional Ownership by Quarter for American Axle & Manufacturing Holdings (NYSE:AXL)

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