State Board of Administration of Florida Retirement System Lowers Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

State Board of Administration of Florida Retirement System cut its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 0.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 230,868 shares of the specialty chemicals company’s stock after selling 777 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Axalta Coating Systems were worth $6,739,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AXTA. First Trust Advisors LP purchased a new stake in Axalta Coating Systems during the first quarter worth $278,000. Amundi Pioneer Asset Management Inc. boosted its holdings in Axalta Coating Systems by 6.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 127,994 shares of the specialty chemicals company’s stock worth $3,227,000 after buying an additional 7,962 shares in the last quarter. US Bancorp DE boosted its holdings in Axalta Coating Systems by 126.7% during the second quarter. US Bancorp DE now owns 6,036 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 3,374 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in Axalta Coating Systems by 3.1% during the second quarter. WINTON GROUP Ltd now owns 13,460 shares of the specialty chemicals company’s stock worth $410,000 after buying an additional 411 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in Axalta Coating Systems by 14.6% during the second quarter. Rockefeller Capital Management L.P. now owns 5,183 shares of the specialty chemicals company’s stock worth $157,000 after buying an additional 660 shares in the last quarter. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP Troy D. Weaver sold 24,000 shares of the stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $31.46, for a total value of $755,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

A number of research firms have weighed in on AXTA. Royal Bank of Canada reduced their price objective on shares of Axalta Coating Systems from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, September 21st. TheStreet upgraded shares of Axalta Coating Systems from a “c+” rating to a “b” rating in a research report on Wednesday, October 13th. Mizuho began coverage on shares of Axalta Coating Systems in a research report on Tuesday, October 12th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Axalta Coating Systems currently has a consensus rating of “Buy” and an average price target of $36.60.

Shares of NYSE AXTA opened at $32.74 on Friday. The firm has a 50-day simple moving average of $32.30 and a 200-day simple moving average of $30.95. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 0.84 and a beta of 1.41. The company has a quick ratio of 1.44, a current ratio of 1.97 and a debt-to-equity ratio of 2.55. Axalta Coating Systems Ltd. has a 52 week low of $26.42 and a 52 week high of $34.20.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Sunday, October 24th. The specialty chemicals company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.05. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Axalta Coating Systems had a net margin of 6.44% and a return on equity of 30.83%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, equities research analysts expect that Axalta Coating Systems Ltd. will post 1.76 EPS for the current year.

Axalta Coating Systems Profile

Axalta Coating Systems Ltd. engages in the manufacture, marketing, and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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