BlackRock Fund Advisors recently announced the acquisition of new stake in American Axle & Manufacturing Holdings Inc. (NYSE:AXL). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.75% to 17.48 million shares with purchase of 0.3 million shares. This fresh investment now brings its stake to 15.26% valued currently at $153.85 million. In addition, The Vanguard Group, Inc. raised its holdings by 42300.0 to 14.37 million shares. And Dimensional Fund Advisors LP has lifted its position by 4.41% or 0.25 million shares – to 5.97 million shares.
With over 2.1 million American Axle & Manufacturing Holdings Inc. (AXL) shares trading Tuesday and a closing price of $8.10 on the day, the dollar volume was approximately $17.04 million. The shares have shown a negative half year performance of -19.72% and its price on 03/14/23 gained nearly 0.75%. Currently, there are 114.80M common shares owned by the public and among those 112.10M shares have been available to trade.
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Insiders at the company have transacted a total of 9 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 171,855 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in American Axle & Manufacturing Holdings Inc. are iShares Core S&P Small Cap ETF, Fidelity Mid Cap Stock Fund, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 8.72 million shares of the company’s stock, all valued at over $76.69 million. The company bought an additional 21190.0 shares recently to bring their total holdings to about 7.61% of the shares outstanding. Fidelity Mid Cap Stock Fund sold 14723.0 shares to see its total holdings shrink to 4.16 million shares valued at over $36.6 million and representing 3.63% of the shares outstanding. Vanguard Total Stock Market Index bought 80464.0 shares to bring its total holdings to over 3.34 million shares at a value of $29.42 million. Vanguard Total Stock Market Index now owns shares totaling to 2.92% of the shares outstanding.
Shares of American Axle & Manufacturing Holdings Inc. (NYSE: AXL) opened at $8.26, up $0.22 from a prior closing price of $8.04. However, the script later moved the day high at 8.47, up 0.75%. The company’s stock has a 5-day price change of -10.69% and -12.90% over the past three months. AXL shares are trading 3.58% year to date (YTD), with the 12-month market performance down to -3.57% lower. It has a 12-month low price of $6.36 and touched a high of $11.96 over the same period. AXL has an average intraday trading volume of 1.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.83%, -8.28%, and -8.80% respectively.
Institutional ownership of American Axle & Manufacturing Holdings Inc. (NYSE: AXL) shares accounts for 98.40% of the company’s 114.80M shares outstanding. Mutual fund holders own 40.09%, while other institutional holders and individual stakeholders account for 60.02% and 35.98% respectively.
It has a market capitalization of $949.00M and a beta (3y monthly) value of 2.28. The stock’s trailing 12-month PE ratio is 15.25, while the earnings-per-share (ttm) stands at $0.53. The company has a PEG of 0.58 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 4.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.11% over the week and 4.59% over the month.
Analysts forecast that American Axle & Manufacturing Holdings Inc. (AXL) will achieve an EPS of $0.01 for the current quarter, $0.24 for the next quarter and $0.93 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of $0.12. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to increase by 967.50%, and 66.84% over the next financial year. EPS should grow at an annualized rate of 26.38% over the next five years, compared to -29.30% over the past 5-year period.
Looking at the support for the AXL, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on February 15, 2023, with the firm’s price target at $10. BofA Securities coverage for the American Axle & Manufacturing Holdings Inc. (AXL) stock in a research note released on September 09, 2022 offered a Neutral rating with a price target of $13. Wolfe Research was of a view on August 18, 2022 that the stock is Peer Perform, while Exane BNP Paribas gave the stock Neutral rating on April 11, 2022, issuing a price target of $7. Morgan Stanley on their part issued Overweight rating on February 28, 2022.
