Highland Capital Management LLC Invests $185,000 in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Highland Capital Management LLC purchased a new stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) during the second quarter, according to its most recent filing with the SEC. The fund purchased 26,537 shares of the auto parts company’s stock, valued at approximately $185,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Texas Permanent School Fund Corp increased its stake in American Axle & Manufacturing by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 102,451 shares of the auto parts company’s stock worth $754,000 after acquiring an additional 1,370 shares during the last quarter. ProShare Advisors LLC raised its position in American Axle & Manufacturing by 7.4% during the 1st 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 in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of American Axle & Manufacturing by 13.5% in the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock worth $98,000 after buying an additional 1,665 shares during the period. SummerHaven Investment Management LLC grew its position in shares of American Axle & Manufacturing by 2.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 84,592 shares of the auto parts company’s stock worth $591,000 after buying an additional 2,066 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in American Axle & Manufacturing by 3.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 94,285 shares of the auto parts company’s stock valued at $757,000 after purchasing an additional 2,801 shares during the period. 91.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AXL shares. UBS Group lifted their price objective on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Bank of America boosted their price target on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a report on Monday, August 12th. Finally, Citigroup lifted their price target on American Axle & Manufacturing from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.90.

American Axle & Manufacturing Stock Up 4.5 %

AXL traded up $0.28 on Friday, hitting $6.53. 2,038,567 shares of the company were exchanged, compared to its average volume of 1,566,092. The firm has a 50-day moving average price of $6.82 and a two-hundred day moving average price of $7.16. The company has a current ratio of 1.69, a quick ratio of 1.31 and a debt-to-equity ratio of 4.40. American Axle & Manufacturing Holdings, Inc. has a twelve month low of $5.99 and a twelve month high of $8.99. The company has a market cap of $767.62 million, a price-to-earnings ratio of -93.29 and a beta of 2.04.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. American Axle & Manufacturing had a negative net margin of 0.13% and a positive return on equity of 1.92%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. On average, equities analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.35 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.