Cigna Investments Inc. New purchased a new position in shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,356 shares of the auto parts company’s stock, valued at approximately $286,000.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. bought a new position in American Axle & Manufacturing Holdings during the first quarter worth approximately $1,121,000. State of Tennessee Treasury Department raised its position in American Axle & Manufacturing Holdings by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 71,406 shares of the auto parts company’s stock worth $1,341,000 after buying an additional 10,776 shares in the last quarter. Morgan Stanley raised its position in American Axle & Manufacturing Holdings by 7.0% in the first quarter. Morgan Stanley now owns 418,610 shares of the auto parts company’s stock worth $7,862,000 after buying an additional 27,281 shares in the last quarter. UBS Group AG raised its position in American Axle & Manufacturing Holdings by 949.0% in the first quarter. UBS Group AG now owns 105,649 shares of the auto parts company’s stock worth $1,984,000 after buying an additional 95,578 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in American Axle & Manufacturing Holdings by 15.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 470,000 shares of the auto parts company’s stock worth $8,827,000 after buying an additional 61,783 shares in the last quarter.

American Axle & Manufacturing Holdings, Inc. (AXL) opened at 13.99 on Monday. The firm has a 50-day moving average of $15.31 and a 200 day moving average of $17.15. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 4.82 and a beta of 1.34. American Axle & Manufacturing Holdings, Inc. has a 52-week low of $12.61 and a 52-week high of $21.25.

American Axle & Manufacturing Holdings (NYSE:AXL) last posted its quarterly earnings results on Friday, July 28th. The auto parts company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.74 billion. American Axle & Manufacturing Holdings had a net margin of 5.32% and a return on equity of 42.42%. American Axle & Manufacturing Holdings’s revenue for the quarter was up 71.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, equities research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post $3.29 earnings per share for the current year.

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A number of research analysts recently commented on AXL shares. Deutsche Bank AG reiterated a “buy” rating and set a $22.00 price objective (down previously from $24.00) on shares of American Axle & Manufacturing Holdings in a research note on Thursday, June 22nd. ValuEngine lowered shares of American Axle & Manufacturing Holdings from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of American Axle & Manufacturing Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Bank of America Corporation reiterated an “underperform” rating and set a $11.00 price objective (down previously from $16.00) on shares of American Axle & Manufacturing Holdings in a research note on Friday, June 16th. Finally, BidaskClub lowered shares of American Axle & Manufacturing Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.90.

American Axle & Manufacturing Holdings Company Profile

American Axle & Manufacturing Holdings, Inc (AAM) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles, crossover vehicles, passenger cars and commercial vehicles. Its driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels.

Institutional Ownership by Quarter for American Axle & Manufacturing Holdings (NYSE:AXL)

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