Allspring Global Investments Holdings LLC Purchases Shares of 17,129 Axalta Coating Systems Ltd. (NYSE:AXTA)

Allspring Global Investments Holdings LLC purchased a new position in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,129 shares of the specialty chemicals company's stock, valued at approximately $572,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Management Professionals Inc. increased its stake in shares of Axalta Coating Systems by 11,757.1% in the 1st quarter. Financial Management Professionals Inc. now owns 830 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 823 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Axalta Coating Systems by 105.9% in the 1st quarter. Golden State Wealth Management LLC now owns 949 shares of the specialty chemicals company's stock valued at $31,000 after acquiring an additional 488 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Axalta Coating Systems by 60.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock valued at $45,000 after acquiring an additional 498 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Axalta Coating Systems by 31.1% in the 1st quarter. UMB Bank n.a. now owns 2,744 shares of the specialty chemicals company's stock valued at $91,000 after acquiring an additional 651 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in shares of Axalta Coating Systems by 54.7% in 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 in the last quarter. Institutional investors and hedge funds own 98.28% of the company's stock.

Axalta Coating Systems Stock Performance

NYSE AXTA traded down $0.42 during trading on Friday, hitting $30.52. 1,375,766 shares of the company's stock traded hands, compared to its average volume of 2,096,330. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.86 and a beta of 1.25. Axalta Coating Systems Ltd. has a 12-month low of $27.70 and a 12-month high of $41.66. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.53 and a current ratio of 2.12. The business has a 50 day moving average of $30.88 and a 200-day moving average of $33.13.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. Axalta Coating Systems had a return on equity of 26.30% and a net margin of 8.56%. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the prior year, the business posted $0.48 earnings per share. The company's revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on AXTA. Wells Fargo & Company decreased their price target on shares of Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. Morgan Stanley decreased their price target on shares of Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. The Goldman Sachs Group decreased their price target on shares of Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Citigroup reaffirmed a "neutral" rating and set a $34.00 price objective (down from $35.00) on shares of Axalta Coating Systems in a report on Friday, June 13th. Finally, BNP Paribas raised shares of 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. Five equities 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 company's stock. Based on data from MarketBeat.com, Axalta Coating Systems currently has an average rating of "Moderate Buy" and a consensus price target of $40.60.

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.