Nissay Asset Management Corp Japan ADV increased its position in shares of Axalta Coating Systems Ltd (NYSE:AXTA) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,215 shares of the specialty chemicals company’s stock after buying an additional 770 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Axalta Coating Systems were worth $510,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in shares of Axalta Coating Systems by 139.8% in the fourth quarter. Millennium Management LLC now owns 5,188,939 shares of the specialty chemicals company’s stock valued at $121,525,000 after acquiring an additional 3,025,348 shares during the period. Norges Bank acquired a new stake in Axalta Coating Systems in the fourth quarter valued at $37,547,000. Massachusetts Financial Services Co. MA lifted its holdings in Axalta Coating Systems by 17.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,704,794 shares of the specialty chemicals company’s stock valued at $133,606,000 after acquiring an additional 844,587 shares during the period. CI Investments Inc. increased its position in shares of Axalta Coating Systems by 63.6% in the fourth quarter. CI Investments Inc. now owns 2,049,400 shares of the specialty chemicals company’s stock valued at $47,997,000 after buying an additional 796,400 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Axalta Coating Systems by 1,502.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 600,166 shares of the specialty chemicals company’s stock worth $15,130,000 after purchasing an additional 562,709 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.
In other Axalta Coating Systems news, Director Charles W. Shaver sold 309,820 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $25.52, for a total value of $7,906,606.40. Following the completion of the sale, the director now owns 440,775 shares in the company, valued at approximately $11,248,578. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andreas Kramvis sold 55,048 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $28.11, for a total value of $1,547,399.28. Following the completion of the sale, the director now owns 50,628 shares of the company’s stock, valued at approximately $1,423,153.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 864,868 shares of company stock valued at $22,074,006. Insiders own 2.10% of the company’s stock.
A number of brokerages have issued reports on AXTA. BMO Capital Markets set a $32.00 price target on Axalta Coating Systems and gave the stock a “hold” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. lowered Axalta Coating Systems from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $30.00 to $27.00 in a research note on Friday, April 26th. Finally, Zacks Investment Research raised Axalta Coating Systems from a “strong sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $30.09.
AXTA traded down $0.10 during trading on Friday, reaching $26.08. 1,343,700 shares of the company were exchanged, compared to its average volume of 2,023,517. The company has a market cap of $6.02 billion, a P/E ratio of 20.38, a PEG ratio of 1.24 and a beta of 1.30. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.21 and a quick ratio of 1.60. Axalta Coating Systems Ltd has a 52 week low of $21.58 and a 52 week high of $31.24.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.13. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, research analysts anticipate that Axalta Coating Systems Ltd will post 1.73 earnings per share for the current year.
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About Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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