Voya Investment Management LLC Boosts Stock Position in American Axle & Manufacturing Holdings, Inc. $AXL

Key Points

• Voya Investment Management LLC increased its stake in American Axle & Manufacturing Holdings by 128.4%, acquiring an additional 163,179 shares, bringing its total to 290,241 shares valued at approximately $1.18 million.
• American Axle reported a net income margin of 0.73% for the recent quarter, with earnings per share of $0.21 that exceeded analyst expectations, despite a 5.9% decline in revenue year-over-year.
• Brokerages have adjusted their ratings on American Axle, with Royal Bank of Canada upgrading their outlook to "outperform" and raising the price target from $6.00 to $8.00.

Voya Investment Management LLC lifted its stake in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Free Report) by 128.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,241 shares of the auto parts company's stock after acquiring an additional 163,179 shares during the period. Voya Investment Management LLC owned 0.24% of American Axle & Manufacturing worth $1,181,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AXL. Mirae Asset Global Investments Co. Ltd. raised its position in shares of American Axle & Manufacturing by 4.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,936 shares of the auto parts company's stock valued at $424,000 after purchasing an additional 4,260 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of American Axle & Manufacturing by 432.7% in the 1st quarter. Russell Investments Group Ltd. now owns 517,981 shares of the auto parts company's stock valued at $2,108,000 after purchasing an additional 420,749 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of American Axle & Manufacturing by 20.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,649,397 shares of the auto parts company's stock valued at $10,783,000 after purchasing an additional 444,134 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of American Axle & Manufacturing in the 4th quarter valued at approximately $62,000. Finally, Nomura Holdings Inc. raised its position in shares of American Axle & Manufacturing by 12.7% in the 1st quarter. Nomura Holdings Inc. now owns 400,300 shares of the auto parts company's stock valued at $1,629,000 after purchasing an additional 45,200 shares in the last quarter. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

American Axle & Manufacturing Stock Performance

Shares of AXL stock opened at $6.01 on Wednesday. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.77 and a quick ratio of 1.40. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $7.03. The stock's 50-day moving average is $5.47 and its two-hundred day moving average is $4.60. The firm has a market cap of $712.58 million, a P/E ratio of 17.66, a PEG ratio of 0.69 and a beta of 1.61.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last announced its earnings results on Friday, August 8th. The auto parts company reported $0.21 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company earned $0.19 EPS. The firm's revenue for the quarter was down 5.9% compared to the same quarter last year. American Axle & Manufacturing has set its FY 2025 guidance at EPS. Analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AXL. UBS Group reiterated a "buy" rating on shares of American Axle & Manufacturing in a report on Sunday, August 10th. Royal Bank Of Canada upgraded American Axle & Manufacturing from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $6.00 to $8.00 in a report on Tuesday, September 2nd. Stifel Nicolaus assumed coverage on American Axle & Manufacturing in a research note on Thursday, August 21st. They set a "hold" rating and a $6.00 price objective for the company. Finally, Wall Street Zen upgraded American Axle & Manufacturing from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, American Axle & Manufacturing currently has an average rating of "Hold" and a consensus price target of $6.75.

American Axle & Manufacturing Company Profile

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.

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