American Axle & Manufact. Holdings, Inc. (AXL) Position Raised by Bank of America Corp DE

Bank of America Corp DE boosted its stake in American Axle & Manufact. Holdings, Inc. (NYSE:AXL) by 14.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 627,241 shares of the auto parts company’s stock after purchasing an additional 78,408 shares during the quarter. Bank of America Corp DE’s holdings in American Axle & Manufact. were worth $9,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXL. New York State Common Retirement Fund increased its holdings in American Axle & Manufact. by 6.8% in the first quarter. New York State Common Retirement Fund now owns 107,300 shares of the auto parts company’s stock valued at $1,633,000 after purchasing an additional 6,800 shares during the last quarter. Principal Financial Group Inc. increased its holdings in American Axle & Manufact. by 1.7% in the first quarter. Principal Financial Group Inc. now owns 769,615 shares of the auto parts company’s stock valued at $11,714,000 after purchasing an additional 13,053 shares during the last quarter. Element Capital Management LLC bought a new stake in American Axle & Manufact. in the first quarter valued at about $181,000. LPL Financial LLC increased its holdings in American Axle & Manufact. by 53.5% in the first quarter. LPL Financial LLC now owns 20,854 shares of the auto parts company’s stock valued at $317,000 after purchasing an additional 7,270 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in American Axle & Manufact. in the first quarter valued at about $1,197,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

A number of equities research analysts recently commented on AXL shares. Zacks Investment Research downgraded American Axle & Manufact. from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. ValuEngine downgraded American Axle & Manufact. from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Citigroup dropped their price objective on American Axle & Manufact. from $23.00 to $22.00 and set a “buy” rating for the company in a report on Friday, October 12th. Wolfe Research started coverage on American Axle & Manufact. in a report on Tuesday, October 2nd. They issued an “outperform” rating for the company. Finally, TheStreet upgraded American Axle & Manufact. from a “c+” rating to a “b-” rating in a report on Wednesday, August 8th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. American Axle & Manufact. has an average rating of “Hold” and a consensus price target of $19.38.

Shares of American Axle & Manufact. stock opened at $16.30 on Thursday. American Axle & Manufact. Holdings, Inc. has a 1 year low of $13.95 and a 1 year high of $20.27. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 4.35, a price-to-earnings-growth ratio of 0.55 and a beta of 1.42. The company has a quick ratio of 1.30, a current ratio of 1.62 and a debt-to-equity ratio of 2.19.

American Axle & Manufact. (NYSE:AXL) last announced its quarterly earnings results on Friday, August 3rd. The auto parts company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.14. American Axle & Manufact. had a return on equity of 28.88% and a net margin of 6.00%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts predict that American Axle & Manufact. Holdings, Inc. will post 3.9 EPS for the current fiscal year.

American Axle & Manufact. Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products. The company's Driveline segment offers axles, driveshafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

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Institutional Ownership by Quarter for American Axle & Manufact. (NYSE:AXL)

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