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Allspring Global Investments Holdings LLC Acquires New Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Axalta Coating Systems logo with Basic Materials background

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

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Axalta Coating Systems in the 4th quarter valued at approximately $87,850,000. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Axalta Coating Systems by 54.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,587,090 shares of the specialty chemicals company's stock worth $191,190,000 after buying an additional 1,980,296 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Axalta Coating Systems in the first quarter worth $55,876,000. Balyasny Asset Management L.P. acquired a new stake in shares of Axalta Coating Systems during the fourth quarter worth $56,215,000. Finally, Deutsche Bank AG grew its holdings in shares of Axalta Coating Systems by 144.7% during the fourth quarter. Deutsche Bank AG now owns 1,950,902 shares of the specialty chemicals company's stock valued at $66,760,000 after buying an additional 1,153,620 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered Axalta Coating Systems from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $42.00 to $32.00 in a research note on Thursday, May 8th. Citigroup restated a "neutral" rating and issued a $34.00 price objective (down from $35.00) on shares of Axalta Coating Systems in a research note on Friday, June 13th. Wall Street Zen downgraded Axalta Coating Systems from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Mizuho set a $37.00 price objective on Axalta Coating Systems in a research note on Tuesday, April 15th. Finally, BNP Paribas raised Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price objective for the company in a report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.60.

View Our Latest Stock Report on Axalta Coating Systems

Axalta Coating Systems Price Performance

Axalta Coating Systems stock traded down $0.42 during trading on Friday, reaching $30.52. The company had a trading volume of 1,375,766 shares, compared to its average volume of 2,094,847. The firm has a market capitalization of $6.67 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.87 and a beta of 1.25. The firm's 50-day simple moving average is $30.88 and its 200 day simple moving average is $33.14. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.53 and a current ratio of 2.12. Axalta Coating Systems Ltd. has a 1-year low of $27.70 and a 1-year high of $41.66.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its earnings results 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. Axalta Coating Systems had a net margin of 8.56% and a return on equity of 26.30%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned $0.48 earnings per share. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Axalta Coating Systems Company 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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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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