Municipal Employees Retirement System of Michigan Buys New Position in American Axle & Manufact. Holdings, Inc. (AXL)

Municipal Employees Retirement System of Michigan bought a new stake in American Axle & Manufact. Holdings, Inc. (NYSE:AXL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 69,310 shares of the auto parts company’s stock, valued at approximately $770,000. Municipal Employees Retirement System of Michigan owned 0.06% of American Axle & Manufact. as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AXL. Gotham Asset Management LLC purchased a new position in American Axle & Manufact. during the fourth quarter valued at $3,735,000. Metropolitan Life Insurance Co. NY raised its stake in shares of American Axle & Manufact. by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 36,155 shares of the auto parts company’s stock worth $401,000 after buying an additional 28,237 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of American Axle & Manufact. during the 4th quarter worth approximately $900,000. Highbridge Capital Management LLC purchased a new position in shares of American Axle & Manufact. during the 4th quarter worth approximately $5,003,000. Finally, Bank of America Corp DE raised its stake in shares of American Axle & Manufact. by 22.2% during the 4th quarter. Bank of America Corp DE now owns 750,214 shares of the auto parts company’s stock worth $8,326,000 after buying an additional 136,095 shares in the last quarter. 98.64% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Tolga I. Oal sold 14,876 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $14.47, for a total transaction of $215,255.72. Following the sale, the insider now owns 97,430 shares in the company, valued at $1,409,812.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alberto L. Satine sold 15,033 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $16.75, for a total value of $251,802.75. Following the sale, the senior vice president now owns 59,420 shares in the company, valued at approximately $995,285. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

NYSE:AXL traded up $0.27 during trading hours on Friday, reaching $15.92. 1,253,471 shares of the company traded hands, compared to its average volume of 1,488,685. The stock has a market cap of $1.78 billion, a PE ratio of 4.85, a price-to-earnings-growth ratio of 0.68 and a beta of 1.66. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.16 and a current ratio of 1.50. American Axle & Manufact. Holdings, Inc. has a 1-year low of $10.13 and a 1-year high of $19.34.

American Axle & Manufact. (NYSE:AXL) last announced its earnings results on Friday, February 15th. The auto parts company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.68 billion. American Axle & Manufact. had a positive return on equity of 22.35% and a negative net margin of 0.79%. American Axle & Manufact.’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. As a group, equities research analysts predict that American Axle & Manufact. Holdings, Inc. will post 2.9 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on AXL shares. Bank of America raised American Axle & Manufact. from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $20.00 in a research note on Wednesday, February 20th. Barclays reissued a “buy” rating and set a $14.00 target price on shares of American Axle & Manufact. in a research note on Sunday, January 6th. ValuEngine downgraded American Axle & Manufact. from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Morgan Stanley set a $19.00 price target on American Axle & Manufact. and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, TheStreet upgraded American Axle & Manufact. from a “c” rating to a “b-” rating in a report on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $18.00.

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American Axle & Manufact. Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products in the United States, Mexico, South America, China, other Asian countries, Europe, and internationally. The company's Driveline segment offers axles, drive shafts, 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.

Further Reading: Hedge Funds

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

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