American Century Companies Inc. Has $17.43 Million Stake in American Axle & Manufacturing Holdings, Inc. $AXL

Key Takeaways:

• American Century Companies Inc. holds a $17.43 million stake in American Axle.
• The stake grew by 11.1% during the first quarter of this year.
• An additional 427,071 shares were purchased by American Century Companies.
• A recent Form 13F filing with the SEC contained the updated holdings information.
• The firm now possesses 4,283,580 shares of AXL stock.

Introduction

American Century Companies Inc., a notable investment management company, has expanded its position in American Axle & Manufacturing Holdings, Inc. (NYSE: AXL). According to a recent filing, the firm’s move signals a continued interest in the auto parts manufacturer’s potential.

A Closer Look at the SEC Filing

Publicly traded companies and major investors are required to disclose share ownership in Form 13F filings with the Securities and Exchange Commission (SEC). This allows the public and other market participants to track holdings and changes in investment positions. In this case, the filing sheds light on American Century Companies’ deeper commitment to American Axle.

The 11.1% Increase in Holdings

During the first quarter, American Century Companies raised its stake in American Axle by 11.1%. The increase was achieved through the purchase of an additional 427,071 shares, illustrating the firm’s decision to strengthen its position in one of the industry’s recognized auto parts providers.

The Value of the Stake

The company’s holdings are now valued at $17.43 million. This figure, taken directly from the filing, confirms the significance of the investment. The total share count in American Axle stands at 4,283,580 shares.

Broader Context

While the motivations for the purchase are not detailed in the filing, American Century’s continued interest in American Axle underscores the auto parts sector’s ongoing relevance. The purchase also reflects potential confidence in the sector’s performance, though the data provided offers no details beyond the straightforward numbers.

Conclusion

This newly disclosed information from American Century Companies underscores an 11.1% growth in shares of American Axle & Manufacturing Holdings, Inc. The $17.43 million stake, filed with the SEC, highlights the investment manager’s heightened confidence in the auto parts company and its future.