California Public Employees Retirement System reduced its stake in Axalta Coating Systems Ltd. (NYSE:AXTA – Free Report) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 403,267 shares of the specialty chemicals company’s stock after selling 17,024 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Axalta Coating Systems worth $13,231,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Handelsbanken Fonder AB grew its holdings in Axalta Coating Systems by 30.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 45,300 shares of the specialty chemicals company’s stock valued at $1,486,000 after buying an additional 10,600 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in Axalta Coating Systems during the first quarter valued at $5,373,000. Retirement Systems of Alabama bought a new position in Axalta Coating Systems during the first quarter valued at $8,731,000. Simplicity Solutions LLC grew its stake in shares of Axalta Coating Systems by 3.6% in the 2nd quarter. Simplicity Solutions LLC now owns 13,767 shares of the specialty chemicals company’s stock worth $452,000 after buying an additional 484 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of Axalta Coating Systems in the 1st quarter worth about $1,950,000. Institutional investors own 98.64% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on AXTA. Mizuho dropped their price target on Axalta Coating Systems from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Credit Suisse Group boosted their price objective on shares of Axalta Coating Systems from $29.00 to $31.00 and gave the company an “underperform” rating in a research report on Wednesday, August 2nd. Royal Bank of Canada lifted their price target on shares of Axalta Coating Systems from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Citigroup reduced their price objective on shares of Axalta Coating Systems from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, October 4th. Finally, Morgan Stanley restated an “equal weight” rating and set a $32.00 target price on shares of Axalta Coating Systems in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Axalta Coating Systems presently has an average rating of “Moderate Buy” and a consensus target price of $34.29.
In related news, Director Robert M. Mclaughlin sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $29.77, for a total transaction of $148,850.00. Following the completion of the transaction, the director now owns 92,649 shares in the company, valued at approximately $2,758,160.73. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Robert M. Mclaughlin sold 5,000 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $29.77, for a total transaction of $148,850.00. Following the transaction, the director now directly owns 92,649 shares in the company, valued at approximately $2,758,160.73. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kevin M. Stein purchased 36,600 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average price of $27.38 per share, with a total value of $1,002,108.00. Following the completion of the purchase, the director now owns 36,600 shares of the company’s stock, valued at approximately $1,002,108. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 30,415 shares of company stock worth $935,990. Corporate insiders own 0.40% of the company’s stock.
Axalta Coating Systems Stock Down 0.2 %
Axalta Coating Systems stock opened at $31.01 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 2.05 and a debt-to-equity ratio of 2.13. The firm has a market cap of $6.87 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.56 and a beta of 1.43. The business has a fifty day moving average of $27.59 and a two-hundred day moving average of $29.48. Axalta Coating Systems Ltd. has a twelve month low of $24.86 and a twelve month high of $33.68.
Axalta Coating Systems (NYSE:AXTA – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Axalta Coating Systems had a return on equity of 20.98% and a net margin of 4.64%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the business posted $0.39 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts forecast that Axalta Coating Systems Ltd. will post 1.58 earnings per share for the current fiscal year.
Axalta Coating Systems Profile
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Performance Coatings and Mobility Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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