Bank of America Corp DE Cuts Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Bank of America Corp DE lowered its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,128,179 shares of the specialty chemicals company's stock after selling 100,421 shares during the period. 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 SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Axalta Coating Systems by 50.4% in the 3rd quarter. Barclays PLC now owns 154,483 shares of the specialty chemicals company's stock valued at $5,589,000 after purchasing an additional 51,748 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Axalta Coating Systems by 13.3% during the 4th quarter. Park Avenue Securities LLC now owns 22,872 shares of the specialty chemicals company's stock valued at $783,000 after purchasing an additional 2,676 shares during the last quarter. Shelton Wealth Management LLC bought a new stake in shares of Axalta Coating Systems in the 4th quarter worth $228,000. UMB Bank n.a. lifted its holdings in 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 period. Finally, Janney Montgomery Scott LLC boosted its stake in Axalta Coating Systems by 1.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,951 shares of the specialty chemicals company's stock valued at $820,000 after acquiring an additional 323 shares during the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Stock Down 0.9%

Shares of AXTA stock traded down $0.30 during trading hours on Wednesday, reaching $31.54. 169,538 shares of the company's stock were exchanged, compared to its average volume of 2,019,978. Axalta Coating Systems Ltd. has a 1 year low of $27.70 and a 1 year high of $41.66. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74. The stock has a market cap of $6.89 billion, a PE ratio of 17.75, a PEG ratio of 0.92 and a beta of 1.35. The stock's fifty day moving average price is $32.24 and its two-hundred day moving average price is $35.36.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. The company had revenue of $1.29 billion during 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 was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 EPS. Research analysts predict that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

Wall Street Analyst Weigh In

AXTA has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Citigroup reduced 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. Mizuho set a $37.00 price target on Axalta Coating Systems in a research note on Tuesday, April 15th. StockNews.com downgraded Axalta Coating Systems from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company lifted their target price on shares of Axalta Coating Systems from $37.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. 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 company's stock. Based on data from MarketBeat, Axalta Coating Systems presently has a consensus rating of "Moderate Buy" and an average price target 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.