American Century Companies Inc. Raises Holdings in American Axle & Manufacturing Holdings, Inc. $AXL

Key Points

• American Century Companies Inc. increased its stake in American Axle & Manufacturing by 11.1% in the first quarter, now owning approximately $17.43 million worth of shares.
• Analysts are generally cautious, with a consensus rating of "Hold" and an average target price of $6.21 for American Axle's stock, despite a recent 2.0% increase in stock price.
• The company reported earnings of $0.21 per share for the latest quarter, exceeding analysts' expectations, but experienced a 5.9% decline in revenue year-over-year.

American Century Companies Inc. increased its position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,283,580 shares of the auto parts company's stock after acquiring an additional 427,071 shares during the period. American Century Companies Inc. owned about 3.62% of American Axle & Manufacturing worth $17,434,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AXL. Wells Fargo & Company MN raised its holdings in American Axle & Manufacturing by 23.3% in the 4th quarter. Wells Fargo & Company MN now owns 75,084 shares of the auto parts company's stock worth $438,000 after acquiring an additional 14,164 shares during the last quarter. Raymond James Financial Inc. purchased a new position in American Axle & Manufacturing in the 4th quarter worth approximately $183,000. Barclays PLC raised its holdings in American Axle & Manufacturing by 26.1% in the 4th quarter. Barclays PLC now owns 251,899 shares of the auto parts company's stock worth $1,470,000 after acquiring an additional 52,104 shares during the last quarter. Guggenheim Capital LLC raised its stake in American Axle & Manufacturing by 50.0% during the 4th quarter. Guggenheim Capital LLC now owns 25,541 shares of the auto parts company's stock valued at $149,000 after buying an additional 8,518 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in American Axle & Manufacturing by 11.3% during the 4th quarter. MetLife Investment Management LLC now owns 65,065 shares of the auto parts company's stock valued at $379,000 after buying an additional 6,584 shares during the last quarter. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AXL. Wall Street Zen upgraded shares of American Axle & Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Morgan Stanley decreased their target price on shares of American Axle & Manufacturing from $8.00 to $7.50 and set an "overweight" rating for the company in a research note on Monday, May 19th. Cowen reiterated a "hold" rating on shares of American Axle & Manufacturing in a research note on Monday, May 5th. Stifel Nicolaus assumed coverage on shares of American Axle & Manufacturing in a research note on Thursday, August 21st. They set a "hold" rating and a $6.00 target price for the company. Finally, UBS Group restated a "buy" rating on shares of American Axle & Manufacturing in a research note on Sunday, August 10th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.21.

American Axle & Manufacturing Price Performance

American Axle & Manufacturing stock traded down $0.10 during mid-day trading on Friday, hitting $5.88. The stock had a trading volume of 9,196,130 shares, compared to its average volume of 3,001,704. The firm has a market capitalization of $697.13 million, a P/E ratio of 17.28, a P/E/G ratio of 0.67 and a beta of 1.59. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 3.86. The firm's 50 day moving average is $4.85 and its 200 day moving average is $4.48. American Axle & Manufacturing Holdings, Inc. has a one year low of $3.00 and a one year high of $7.03.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last issued its earnings results on Friday, August 8th. The auto parts company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.07. American Axle & Manufacturing had a return on equity of 8.90% and a net margin of 0.73%.The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the previous year, the firm posted $0.19 earnings per share. The business's revenue was down 5.9% compared to the same quarter last year. American Axle & Manufacturing has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.