American Axle (AXL) Sees Insider Buying, As Big 3 Beg For Cash
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American Axle (NYSE: AXL) is seeing insider buying. Co-Founder/Chairman/CEO Richard Dauch disclosed a purchase of 430,000 shares on 11/14 at prices from $1.55-$1.70, bringing his stake to 669,192 shares.
VP & CTO Yogendra Rahangdale also recently disclosed a purchase of 6,750 shares on 11/13 and VP and CFO Michael Simonte recently disclosed a purchase of 13,469 shares on 11/13.
With the U.S. big three automakers on their death bed and begging Congress for a bailout, the purchases show confidence by management of American Axle that as an auto supplier they believe they can weather the storm not matter what the outcome.
American Axle & Manufacturing Holdings, Inc., together with its subsidiaries, engages in the manufacture, engineering, design, and validation of driveline and drivetrain systems, and related components and chassis modules for automotive industry in the United States.
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