Peregrine Capital Management LLC Lifted Stake in American Axle & Manufact. Stake, Inc. (NYSE:AXL)

Peregrine Capital Management LLC Lifted Stake in American Axle & Manufact. Stake, Inc. (NYSE:AXL)

Peregrine Capital Management LLC increased its stake in American Axle & Manufact. Holdings, Inc. (NYSE:AXL) by 78.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 625,456 shares of the auto parts company’s stock after buying an additional 275,822 shares during the period. Peregrine Capital Management LLC owned about 0.56% of American Axle & Manufact. worth $6,943,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dubuque Bank & Trust Co. bought a new stake in shares of American Axle & Manufact. in the fourth quarter worth $48,000. Janus Henderson Group PLC acquired a new position in American Axle & Manufact. in the third quarter worth $240,000. Meeder Asset Management Inc. boosted its holdings in American Axle & Manufact. by 215.1% in the third quarter. Meeder Asset Management Inc. now owns 13,809 shares of the auto parts company’s stock worth $240,000 after purchasing an additional 9,426 shares during the period. Wakefield Asset Management LLLP acquired a new position in American Axle & Manufact. in the third quarter worth $272,000. Finally, Commonwealth Bank of Australia acquired a new position in American Axle & Manufact. in the third quarter worth $308,000. Institutional investors and hedge funds own 98.64% of the company’s stock.

In other news, President Michael K. Simonte purchased 15,000 shares of American Axle & Manufact. stock in a transaction dated Tuesday, November 13th. The stock was bought at an average price of $11.88 per share, with a total value of $178,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 21,100 shares of company stock valued at $251,876. Corporate insiders own 1.10% of the company’s stock.

A number of equities analysts have commented on the stock. ValuEngine raised shares of American Axle & Manufact. from a “strong sell” rating to a “sell” rating in a report on Saturday, February 2nd. TheStreet downgraded shares of American Axle & Manufact. from a “b-” rating to a “c+” rating in a report on Monday, October 29th. Morgan Stanley set a $19.00 price objective on shares of American Axle & Manufact. and gave the stock a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research raised shares of American Axle & Manufact. from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Tuesday, January 15th. Finally, Barclays set a $15.00 price objective on shares of American Axle & Manufact. and gave the stock a “buy” rating in a report on Monday, November 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $16.50.

Shares of AXL traded up $0.26 during midday trading on Monday, hitting $14.01. 1,841,301 shares of the stock traded hands, compared to its average volume of 1,861,818. American Axle & Manufact. Holdings, Inc. has a 1-year low of $10.13 and a 1-year high of $19.34. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 3.74, a price-to-earnings-growth ratio of 0.55 and a beta of 1.65. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.31 and a current ratio of 1.63.

American Axle & Manufact. 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.

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