Mirae Asset Global Investments Co. Ltd. acquires 233,160 shares of American Axle & Manufacturing Holdings, Inc. (NYSE: AXL)

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Mirae Asset Global Investments Co. Ltd. raised its position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE: AXL – Get Rating) by 17.0% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission . The company held 1,603,393 shares of the auto parts company after acquiring an additional 233,160 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 1.40% of American Axle & Manufacturing worth $12,443,000 when last filed with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently changed their positions in AXL. Mirabella Financial Services LLP purchased a new stake in the shares of American Axle & Manufacturing during the 4th quarter for a value of approximately $3,365,000. Sequoia Financial Advisors LLC purchased a new stake in American Axle & Manufacturing stock during Q4 for approximately $24,309,000. Fuller & Thaler Asset Management Inc. increased its equity stake in American Axle & Manufacturing by 46.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,243,960 shares of the auto parts company worth $30,266,000 after acquiring an additional 1,034,475 shares during the period. Kettle Hill Capital Management LLC purchased a new stake in American Axle & Manufacturing stock during Q4 for a value of approximately $7,236,000. Finally, Kennedy Capital Management Inc. bought a new stake in the shares of American Axle & Manufacturing during the 4th quarter for a value of approximately $6,489,000. Institutional investors hold 91.73% of the company’s shares.

Wall Street analysts predict growth

AXL has been the subject of a number of recent analyst reports. Morgan Stanley raised its price target on shares of American Axle & Manufacturing from $11.00 to $12.00 and gave the stock an “overweight” rating in a Thursday, August 11 report. TheStreet upgraded shares of American Axle & Manufacturing from a “d+” rating to a “c-” rating in a Friday, August 5 research report. Deutsche Bank Aktiengesellschaft raised its price target on American Axle & Manufacturing shares from $8.00 to $9.00 in a Monday, August 8 research report. Wolfe Research cut American Axle & Manufacturing shares from an “outperform” rating to a “peer perform” rating in a research report on Thursday. Finally, StockNews.com upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a Friday, June 3 research report. One financial analyst has assigned the stock a sell rating, four have assigned a hold rating and two have assigned the company’s stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.50.

US axles and manufacturing inventory down 2.5%

NYSE AXL shares opened at $10.98 on Friday. The company has a debt ratio of 6.47, a quick ratio of 1.31 and a current ratio of 1.69. American Axle & Manufacturing Holdings, Inc. has a 52-week low of $6.36 and a 52-week high of $11.96. The company has a 50-day moving average price of $8.68 and a two-hundred-day moving average price of $8.07.

American Axle & Manufacturing Inc (NYSE:AXL – Get Rating) last released quarterly earnings data on Friday, August 5. The auto parts company reported earnings per share of $0.22 for the quarter, beating the consensus estimate of $0.10 by $0.12. American Axle & Manufacturing posted a negative net margin of 0.47% and a positive return on equity of 12.32%. The company posted revenue of $1.44 billion in the quarter, compared to $1.37 billion expected by analysts. In the same period a year earlier, the company posted earnings per share of $0.29. American Axle & Manufacturing revenue for the quarter increased 12.1% compared to the same quarter last year. Analysts expect American Axle & Manufacturing Holdings, Inc. to post earnings per share of 0.93 for the current year.

American Profile Axles and Manufacturing

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American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers and manufactures drivetrain and metal forming technologies that support electric, hybrid and internal combustion vehicles in the United States, Mexico, South America South, China and other Asian countries, and Europe.

Further reading

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Institutional ownership by quarter for American Axle & Manufacturing (NYSE: AXL)



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