D. E. Shaw & Co. Inc. trimmed its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 961,698 shares of the specialty chemicals company's stock after selling 371,843 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.44% of Axalta Coating Systems worth $32,909,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Eagle Bay Advisors LLC raised its holdings in shares of Axalta Coating Systems by 116.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 443 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Axalta Coating Systems by 60.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 498 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Axalta Coating Systems by 35.4% during the 4th quarter. UMB Bank n.a. now owns 2,093 shares of the specialty chemicals company's stock worth $72,000 after buying an additional 547 shares in the last quarter. Plato Investment Management Ltd raised its position in Axalta Coating Systems by 156.4% in the fourth quarter. Plato Investment Management Ltd now owns 2,238 shares of the specialty chemicals company's stock valued at $77,000 after purchasing an additional 1,365 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Axalta Coating Systems by 31.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,581 shares of the specialty chemicals company's stock valued at $88,000 after purchasing an additional 617 shares during the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.
Axalta Coating Systems Stock Performance
Shares of Axalta Coating Systems stock traded down $0.19 during trading on Wednesday, hitting $32.84. 2,271,506 shares of the company's stock were exchanged, compared to its average volume of 2,026,712. Axalta Coating Systems Ltd. has a 52-week low of $27.70 and a 52-week high of $41.66. 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 business has a 50-day simple moving average of $32.40 and a 200-day simple moving average of $35.52. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 0.92 and a beta of 1.35.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. Axalta Coating Systems's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. On average, research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Axalta Coating Systems from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Mizuho set a $37.00 target price on Axalta Coating Systems in a research report on Tuesday, April 15th. Morgan Stanley cut their target price on Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Barclays increased their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group cut their price target on Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.56.
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About Axalta Coating Systems
(
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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