Cerity Partners LLC Makes New Investment in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Posted by Defense World Staff on Sep 7th, 2023

Cerity Partners LLC purchased a new stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,495 shares of the auto parts company’s stock, valued at approximately $473,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. UBS Asset Management Americas Inc. grew its holdings in shares of American Axle & Manufacturing by 0.9% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 128,704 shares of the auto parts company’s stock valued at $879,000 after buying an additional 1,196 shares during the period. Arizona State Retirement System lifted its position in American Axle & Manufacturing by 3.9% in the 4th quarter. Arizona State Retirement System now owns 32,323 shares of the auto parts company’s stock valued at $253,000 after acquiring an additional 1,211 shares in the last quarter. Texas Permanent School Fund lifted its position in American Axle & Manufacturing by 1.5% in the 4th quarter. Texas Permanent School Fund now owns 83,315 shares of the auto parts company’s stock valued at $652,000 after acquiring an additional 1,211 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in American Axle & Manufacturing by 8.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 19,125 shares of the auto parts company’s stock valued at $131,000 after acquiring an additional 1,469 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in American Axle & Manufacturing by 11.7% in the 2nd quarter. Captrust Financial Advisors now owns 14,395 shares of the auto parts company’s stock valued at $108,000 after acquiring an additional 1,505 shares in the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.

Insiders Place Their Bets

In other American Axle & Manufacturing news, VP Terri M. Kemp sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $8.00, for a total transaction of $320,000.00. Following the transaction, the vice president now owns 216,961 shares in the company, valued at approximately $1,735,688. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.30% of the company’s stock.

American Axle & Manufacturing Price Performance

American Axle & Manufacturing stock opened at $7.85 on Thursday. The firm has a market capitalization of $918.91 million, a PE ratio of 21.81, a P/E/G ratio of 2.68 and a beta of 2.32. The company’s 50-day moving average is $8.26 and its 200-day moving average is $7.88. American Axle & Manufacturing Holdings, Inc. has a fifty-two week low of $6.61 and a fifty-two week high of $11.19. The company has a debt-to-equity ratio of 4.43, a current ratio of 1.71 and a quick ratio of 1.32.

American Axle & Manufacturing (NYSE:AXL – Get Free Report) last announced its quarterly earnings results on Friday, August 4th. The auto parts company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. American Axle & Manufacturing had a net margin of 0.72% and a return on equity of 6.07%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business earned $0.22 EPS. American Axle & Manufacturing’s quarterly revenue was up 9.2% on a year-over-year basis. Sell-side analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on AXL shares. Citigroup cut their price target on shares of American Axle & Manufacturing from $9.00 to $8.00 in a research report on Tuesday, May 16th. StockNews.com started coverage on shares of American Axle & Manufacturing in a research report on Thursday, August 17th. They set a “buy” rating on the stock.

Get Our Latest Stock Report on AXL

American Axle & Manufacturing Company Profile

(Free Report)

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 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.