Ameriprise Financial Inc. Sells 781,543 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Ameriprise Financial Inc. cut its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 46.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 896,259 shares of the specialty chemicals company's stock after selling 781,543 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.41% of Axalta Coating Systems worth $30,670,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Axalta Coating Systems by 9.6% in the 4th quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company's stock worth $387,439,000 after purchasing an additional 988,397 shares during the period. JPMorgan Chase & Co. boosted its stake in Axalta Coating Systems by 0.4% in the 4th quarter. JPMorgan Chase & Co. now owns 11,280,882 shares of the specialty chemicals company's stock worth $386,032,000 after purchasing an additional 50,520 shares during the period. Wellington Management Group LLP boosted its stake in Axalta Coating Systems by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 6,598,172 shares of the specialty chemicals company's stock worth $225,789,000 after purchasing an additional 82,200 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in Axalta Coating Systems by 54.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,587,090 shares of the specialty chemicals company's stock worth $191,190,000 after purchasing an additional 1,980,296 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Axalta Coating Systems by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,874,038 shares of the specialty chemicals company's stock worth $132,568,000 after purchasing an additional 93,298 shares during the period. 98.28% of the stock is currently owned by institutional investors.

Axalta Coating Systems Trading Down 0.9%

AXTA stock traded down $0.29 during midday trading on Monday, reaching $32.36. The company's stock had a trading volume of 2,272,120 shares, compared to its average volume of 2,025,846. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01. The stock has a fifty day simple moving average of $32.28 and a two-hundred day simple moving average of $35.38. Axalta Coating Systems Ltd. has a 1 year low of $27.70 and a 1 year high of $41.66. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 0.92 and a beta of 1.35.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $0.48 earnings per share. The business's revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts predict that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com downgraded Axalta Coating Systems from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut Axalta Coating Systems from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $42.00 to $32.00 in a report on Thursday, May 8th. The Goldman Sachs Group decreased their price objective on Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Barclays decreased their price objective on Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, BNP Paribas raised Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price objective on the stock in a report on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.38.

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. The company operates through two segments, Performance Coatings and Mobility Coatings.