Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in Axalta Coating Systems Ltd (NYSE:AXTA) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,511 shares of the specialty chemicals company’s stock after selling 4,415 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.18% of Axalta Coating Systems worth $12,624,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of AXTA. Robeco Institutional Asset Management B.V. bought a new position in Axalta Coating Systems during the 2nd quarter valued at $108,000. Bronfman E.L. Rothschild L.P. boosted its stake in Axalta Coating Systems by 927.6% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,059 shares of the specialty chemicals company’s stock valued at $117,000 after purchasing an additional 3,664 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in Axalta Coating Systems by 18.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock valued at $146,000 after purchasing an additional 703 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in Axalta Coating Systems by 257.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 4,862 shares of the specialty chemicals company’s stock valued at $156,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in Axalta Coating Systems by 217.3% during the 2nd quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock valued at $179,000 after purchasing an additional 3,837 shares in the last quarter. 99.28% of the stock is owned by institutional investors and hedge funds.
AXTA has been the subject of a number of research reports. Credit Suisse Group increased their price target on Axalta Coating Systems from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. TheStreet raised Axalta Coating Systems from a “c” rating to a “b-” rating in a research note on Wednesday, November 15th. Robert W. Baird reaffirmed a “buy” rating and set a $35.00 price target on shares of Axalta Coating Systems in a research note on Monday, October 30th. BidaskClub lowered Axalta Coating Systems from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 17th. Finally, UBS decreased their price target on Axalta Coating Systems from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $33.73.
In other news, EVP Steven R. Markevich sold 900 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $29.42, for a total value of $26,478.00. Following the completion of the sale, the executive vice president now owns 201,393 shares in the company, valued at $5,924,982.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Cash sold 34,874 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $30.00, for a total value of $1,046,220.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
Shares of Axalta Coating Systems Ltd (NYSE:AXTA) opened at $32.41 on Monday. Axalta Coating Systems Ltd has a 52-week low of $25.87 and a 52-week high of $38.20. The company has a market capitalization of $7,896.06, a price-to-earnings ratio of 29.20, a PEG ratio of 2.03 and a beta of 1.55. The company has a debt-to-equity ratio of 2.69, a quick ratio of 1.50 and a current ratio of 2.11.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Thursday, October 26th. The specialty chemicals company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Axalta Coating Systems had a return on equity of 19.91% and a net margin of 1.46%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. sell-side analysts forecast that Axalta Coating Systems Ltd will post 1.15 earnings per share for the current fiscal year.
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Axalta Coating Systems Company Profile
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.
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