Canada Pension Plan Investment Board Increases Holdings in American Axle & Manufact. Holdings, Inc. (AXL)

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Canada Pension Plan Investment Board boosted its stake in American Axle & Manufact. Holdings, Inc. (NYSE:AXL) by 18.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 495,900 shares of the auto parts company’s stock after acquiring an additional 77,100 shares during the period. Canada Pension Plan Investment Board owned 0.44% of American Axle & Manufact. worth $7,716,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in AXL. BlackRock Inc. increased its stake in shares of American Axle & Manufact. by 1.3% in the first quarter. BlackRock Inc. now owns 13,140,836 shares of the auto parts company’s stock worth $200,004,000 after purchasing an additional 167,323 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of American Axle & Manufact. by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 9,354,011 shares of the auto parts company’s stock worth $142,368,000 after purchasing an additional 850,847 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of American Axle & Manufact. by 1.3% in the first quarter. Thrivent Financial for Lutherans now owns 3,337,289 shares of the auto parts company’s stock worth $50,794,000 after purchasing an additional 44,210 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of American Axle & Manufact. by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 1,886,194 shares of the auto parts company’s stock worth $29,349,000 after purchasing an additional 83,784 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of American Axle & Manufact. by 22.6% in the second quarter. Victory Capital Management Inc. now owns 1,649,713 shares of the auto parts company’s stock worth $25,670,000 after purchasing an additional 303,941 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on AXL shares. Citigroup lifted their target price on shares of American Axle & Manufact. to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Zacks Investment Research downgraded shares of American Axle & Manufact. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. ValuEngine upgraded shares of American Axle & Manufact. from a “sell” rating to a “hold” rating in a research note on Saturday, May 26th. Buckingham Research started coverage on shares of American Axle & Manufact. in a research note on Friday, June 1st. They issued a “neutral” rating and a $18.00 target price for the company. Finally, TheStreet upgraded shares of American Axle & Manufact. from a “c+” rating to a “b-” rating in a research note on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $19.13.

Shares of NYSE:AXL opened at $17.96 on Friday. The company has a market cap of $2.05 billion, a P/E ratio of 4.93, a PEG ratio of 0.58 and a beta of 1.37. American Axle & Manufact. Holdings, Inc. has a 12 month low of $13.38 and a 12 month high of $20.27. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.62 and a quick ratio of 1.30.

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

American Axle & Manufact. 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.

See Also: Outstanding Shares and The Effect on Share Price

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

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