Millennium Management LLC increased its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,633,660 shares of the specialty chemicals company's stock after buying an additional 163,543 shares during the quarter. Millennium Management LLC owned 0.75% of Axalta Coating Systems worth $55,904,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Axalta Coating Systems during the fourth quarter worth $87,850,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Axalta Coating Systems by 54.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,587,090 shares of the specialty chemicals company's stock valued at $191,190,000 after purchasing an additional 1,980,296 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Axalta Coating Systems during the 4th quarter worth $56,215,000. Deutsche Bank AG raised its stake in shares of Axalta Coating Systems by 144.7% during the 4th quarter. Deutsche Bank AG now owns 1,950,902 shares of the specialty chemicals company's stock worth $66,760,000 after purchasing an additional 1,153,620 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of 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 buying an additional 988,397 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.
Axalta Coating Systems Price Performance
NYSE AXTA traded up $0.44 on Thursday, hitting $31.73. The stock had a trading volume of 747,425 shares, compared to its average volume of 2,021,377. The firm has a 50-day moving average of $32.18 and a 200-day moving average of $35.33. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01. Axalta Coating Systems Ltd. has a 52-week low of $27.70 and a 52-week high of $41.66. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.35.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The firm's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. Equities analysts expect that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.
Analysts Set New Price Targets
AXTA has been the topic of several research reports. JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $42.00 to $32.00 in a research report on Thursday, May 8th. Wall Street Zen downgraded Axalta Coating Systems from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. The Goldman Sachs Group decreased their target price on Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Citigroup dropped their price target on Axalta Coating Systems from $42.00 to $32.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays decreased their price objective on Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Six research 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 stock. Based on data from MarketBeat.com, Axalta Coating Systems presently has an average rating of "Moderate Buy" and an average target price of $40.38.
Read Our Latest Report on Axalta Coating Systems
Axalta Coating Systems Profile
(
Free Report)
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.
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