Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,128,179 shares of the specialty chemicals company's stock after selling 100,421 shares during the quarter. Bank of America Corp DE owned approximately 0.52% of Axalta Coating Systems worth $38,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp grew its holdings in shares of Axalta Coating Systems by 60.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 498 shares during the last quarter. UMB Bank n.a. grew its position in shares of Axalta Coating Systems by 35.4% during the fourth quarter. UMB Bank n.a. now owns 2,093 shares of the specialty chemicals company's stock worth $72,000 after acquiring an additional 547 shares during the last quarter. Plato Investment Management Ltd raised its position in Axalta Coating Systems by 156.4% in the 4th 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. Venturi Wealth Management LLC increased its stake 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 period. Finally, Headlands Technologies LLC raised its stake in Axalta Coating Systems by 54.7% during the 4th quarter. Headlands Technologies LLC now owns 3,270 shares of the specialty chemicals company's stock valued at $112,000 after acquiring an additional 1,156 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Trading Down 0.9%

Shares of AXTA traded down $0.29 during mid-day trading on Monday, hitting $32.36. The company had a trading volume of 2,272,120 shares, compared to its average volume of 2,025,845. The company has a quick ratio of 1.47, a current ratio of 2.01 and a debt-to-equity ratio of 1.74. The stock has a market cap of $7.07 billion, a PE ratio of 18.18, a P/E/G ratio of 0.92 and a beta of 1.35. Axalta Coating Systems Ltd. has a 1-year low of $27.70 and a 1-year high of $41.66. The business's 50-day simple moving average is $32.31 and its 200-day simple moving average is $35.42.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.05. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. Sell-side analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho set a $37.00 price objective on shares of Axalta Coating Systems in a research report on Tuesday, April 15th. Barclays decreased their price target on Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of Axalta Coating Systems from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. downgraded shares of 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. Finally, Morgan Stanley decreased their price objective on shares of 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. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.38.

About Axalta Coating Systems

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.