American Century Companies Inc. Grows Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

American Century Companies Inc. increased its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 16.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,889,357 shares of the auto parts company’s stock after purchasing an additional 399,616 shares during the period. American Century Companies Inc.’s holdings in American Axle & Manufacturing were worth $20,197,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of American Axle & Manufacturing during the 2nd quarter valued at $41,000. Headlands Technologies LLC bought a new stake in American Axle & Manufacturing during the second quarter worth about $75,000. EntryPoint Capital LLC purchased a new stake in American Axle & Manufacturing in the first quarter worth about $76,000. QRG Capital Management Inc. increased its stake in shares of American Axle & Manufacturing by 13.5% during the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after purchasing an additional 1,665 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of American Axle & Manufacturing by 7.4% during 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 during the last quarter. Institutional investors own 91.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America raised their price objective on American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. Finally, Wolfe Research raised 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 given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, American Axle & Manufacturing currently has an average rating of “Hold” and a consensus price target of $7.58.

American Axle & Manufacturing Price Performance

Shares of NYSE:AXL opened at $6.28 on Friday. The business has a 50-day simple moving average of $6.50 and a two-hundred day simple moving average of $6.97. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.30 and a current ratio of 1.68. The firm has a market cap of $738.23 million, a price-to-earnings ratio of -89.71 and a beta of 1.95. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $5.43 and a fifty-two week high of $8.99.

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 for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.34 earnings per share for the current year.

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.