Gregory Deveson Buys 11,725 Shares of American Axle & Manufact. Holdings, Inc. (AXL) Stock

American Axle & Manufact. Holdings, Inc. (NYSE:AXL) insider Gregory Deveson purchased 11,725 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was bought at an average price of $12.76 per share, for a total transaction of $149,611.00. Following the purchase, the insider now directly owns 57,523 shares in the company, valued at $733,993.48. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

AXL traded up $0.57 during trading on Wednesday, hitting $12.92. 3,982,500 shares of the company’s stock traded hands, compared to its average volume of 2,160,726. The company has a current ratio of 1.63, a quick ratio of 1.31 and a debt-to-equity ratio of 2.11. American Axle & Manufact. Holdings, Inc. has a 12-month low of $11.26 and a 12-month high of $19.63. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 3.45, a P/E/G ratio of 0.36 and a beta of 1.53.

American Axle & Manufact. (NYSE:AXL) last issued its earnings results on Friday, November 2nd. The auto parts company reported $0.63 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 business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts forecast that American Axle & Manufact. Holdings, Inc. will post 3.92 EPS for the current year.

AXL has been the topic of several recent research reports. TheStreet downgraded American Axle & Manufact. from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. Zacks Investment Research downgraded American Axle & Manufact. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. B. Riley cut their target price on American Axle & Manufact. from $12.00 to $10.00 and set a “sell” rating on the stock in a research note on Monday. Bank of America upgraded American Axle & Manufact. from an “underperform” rating to a “neutral” rating and set a $13.00 target price on the stock in a research note on Monday. They noted that the move was a valuation call. Finally, Royal Bank of Canada cut their target price on American Axle & Manufact. from $25.00 to $16.00 and set an “outperform” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. American Axle & Manufact. currently has an average rating of “Hold” and a consensus price target of $17.10.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Preferred LLC boosted its stake in shares of American Axle & Manufact. by 465.8% in the 2nd quarter. Advisors Preferred LLC now owns 10,738 shares of the auto parts company’s stock worth $167,000 after buying an additional 8,840 shares during the last quarter. Brave Asset Management Inc. purchased a new position in shares of American Axle & Manufact. in the 2nd quarter worth $170,000. Engineers Gate Manager LP purchased a new position in shares of American Axle & Manufact. in the 2nd quarter worth $190,000. Hartford Investment Management Co. purchased a new position in shares of American Axle & Manufact. in the 2nd quarter worth $193,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of American Axle & Manufact. by 215.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 13,809 shares of the auto parts company’s stock worth $240,000 after buying an additional 9,426 shares during the last quarter. Institutional investors and hedge funds own 98.64% of the company’s stock.

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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. 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.

Further Reading: Understanding Price to Earnings Ratio (PE)

Insider Buying and Selling by Quarter for American Axle & Manufact. (NYSE:AXL)

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