Millennium Management LLC Has $102.40 Million Stock Holdings in Axalta Coating Systems Ltd. $AXTA

Key Points

• Millennium Management LLC increased its stake in Axalta Coating Systems by 89.0% in Q1, holding 3,087,211 shares valued at approximately $102.4 million.
• Institutional investors own 98.28% of Axalta Coating Systems, with several hedge funds significantly boosting their holdings during the same quarter.
• Analysts have downgraded the stock's price targets, with Wells Fargo reducing it from $40 to $39, while the consensus rating remains a "Moderate Buy."

Millennium Management LLC boosted its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 89.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,087,211 shares of the specialty chemicals company's stock after purchasing an additional 1,453,551 shares during the period. Millennium Management LLC owned about 1.41% of Axalta Coating Systems worth $102,403,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its holdings in shares of Axalta Coating Systems by 2.9% in the 4th quarter. ProShare Advisors LLC now owns 12,242 shares of the specialty chemicals company's stock worth $419,000 after acquiring an additional 343 shares during the period. Fifth Third Bancorp increased its position in Axalta Coating Systems by 12.1% during the first quarter. Fifth Third Bancorp now owns 3,704 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 401 shares during the last quarter. Xponance Inc. lifted its position in Axalta Coating Systems by 1.6% during the first quarter. Xponance Inc. now owns 25,360 shares of the specialty chemicals company's stock valued at $841,000 after buying an additional 407 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Axalta Coating Systems by 3.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,691 shares of the specialty chemicals company's stock valued at $469,000 after buying an additional 431 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its position in Axalta Coating Systems by 105.9% in the first 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. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Amy Tufano sold 3,194 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $31.06, for a total transaction of $99,205.64. Following the transaction, the senior vice president directly owned 12,087 shares in the company, valued at approximately $375,422.22. This represents a 20.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company's stock.

Axalta Coating Systems Stock Up 2.5%

Shares of NYSE AXTA traded up $0.76 during mid-day trading on Thursday, reaching $31.70. 1,048,309 shares of the company traded hands, compared to its average volume of 2,397,843. The company's fifty day moving average is $30.21 and its two-hundred day moving average is $31.41. Axalta Coating Systems Ltd. has a fifty-two week low of $27.58 and a fifty-two week high of $41.65. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.53 and a current ratio of 2.12. The stock has a market cap of $6.87 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. The business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.33 billion. Axalta Coating Systems had a return on equity of 25.32% and a net margin of 8.58%.The firm's revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS. Axalta Coating Systems has set its FY 2025 guidance at 2.450-2.550 EPS. Q3 2025 guidance at 0.630-0.670 EPS. On average, analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

AXTA has been the topic of several research reports. Royal Bank Of Canada dropped their price target on Axalta Coating Systems from $37.00 to $34.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Mizuho lowered their price objective on shares of Axalta Coating Systems from $39.00 to $35.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 15th. BMO Capital Markets lowered shares of Axalta Coating Systems from an "outperform" rating to a "market perform" rating and cut their target price for the company from $51.00 to $33.00 in a research note on Wednesday, July 16th. Zacks Research raised shares of Axalta Coating Systems from a "strong sell" rating to a "hold" rating in a research note on Monday. Finally, The Goldman Sachs Group cut their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.71.

Axalta Coating Systems Company 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.