Allianz Asset Management GmbH Has $21.57 Million Holdings in American Axle & Manufact. Holdings, Inc. (AXL)

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Allianz Asset Management GmbH raised its holdings in American Axle & Manufact. Holdings, Inc. (NYSE:AXL) by 32.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,237,000 shares of the auto parts company’s stock after acquiring an additional 300,000 shares during the period. Allianz Asset Management GmbH owned 1.11% of American Axle & Manufact. worth $21,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Calamos Advisors LLC acquired a new position in American Axle & Manufact. in the 3rd quarter valued at $483,000. Cubist Systematic Strategies LLC increased its holdings in shares of American Axle & Manufact. by 372.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 116,179 shares of the auto parts company’s stock worth $1,808,000 after buying an additional 91,567 shares during the last quarter. Foundry Partners LLC increased its holdings in shares of American Axle & Manufact. by 2.5% during the 3rd quarter. Foundry Partners LLC now owns 974,033 shares of the auto parts company’s stock worth $16,987,000 after buying an additional 23,522 shares during the last quarter. Swiss National Bank increased its holdings in shares of American Axle & Manufact. by 11.1% during the 2nd quarter. Swiss National Bank now owns 193,800 shares of the auto parts company’s stock worth $3,016,000 after buying an additional 19,400 shares during the last quarter. Finally, Employees Retirement System of Texas increased its holdings in shares of American Axle & Manufact. by 23.1% during the 2nd quarter. Employees Retirement System of Texas now owns 181,000 shares of the auto parts company’s stock worth $2,816,000 after buying an additional 34,000 shares during the last quarter.

In related news, CEO David C. Dauch purchased 88,100 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average cost of $11.47 per share, for a total transaction of $1,010,507.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher John May purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was bought at an average price of $12.36 per share, with a total value of $61,800.00. Following the completion of the acquisition, the chief financial officer now owns 72,885 shares in the company, valued at approximately $900,858.60. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 136,425 shares of company stock valued at $1,602,594. 0.96% of the stock is owned by insiders.

A number of research firms have recently commented on AXL. Zacks Investment Research downgraded American Axle & Manufact. from a “hold” rating to a “strong sell” rating in a report on Friday, November 16th. Morgan Stanley set a $16.00 price objective on American Axle & Manufact. and gave the stock a “buy” rating in a report on Wednesday, November 14th. Barclays set a $15.00 price objective on American Axle & Manufact. and gave the stock a “buy” rating in a report on Monday, November 5th. B. Riley dropped their price objective on American Axle & Manufact. from $12.00 to $10.00 and set a “sell” rating for the company in a report on Monday, November 5th. Finally, Royal Bank of Canada dropped their price objective on American Axle & Manufact. from $25.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, November 5th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.70.

Shares of NYSE AXL opened at $11.98 on Friday. American Axle & Manufact. Holdings, Inc. has a 12-month low of $11.26 and a 12-month high of $19.63. The firm has a market capitalization of $1.37 billion, a P/E ratio of 3.16, a P/E/G ratio of 0.46 and a beta of 1.47. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.63 and a quick ratio of 1.31.

American Axle & Manufact. (NYSE:AXL) last announced its quarterly earnings results on Friday, November 2nd. The auto parts company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.27). American Axle & Manufact. had a net margin of 5.62% and a return on equity of 25.19%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts forecast that American Axle & Manufact. Holdings, Inc. will post 3.31 earnings per share for the current year.

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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.

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

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