Cerity Partners LLC lifted its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 219.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,514 shares of the specialty chemicals company's stock after acquiring an additional 60,815 shares during the period. Cerity Partners LLC's holdings in Axalta Coating Systems were worth $2,936,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Axalta Coating Systems during the 4th quarter valued at approximately $87,850,000. Fuller & Thaler Asset Management Inc. lifted its position in Axalta Coating Systems by 54.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,587,090 shares of the specialty chemicals company's stock valued at $191,190,000 after acquiring an additional 1,980,296 shares in the last quarter. SG Americas Securities LLC bought a new position in Axalta Coating Systems in the 1st quarter valued at approximately $55,876,000. Balyasny Asset Management L.P. bought a new position in Axalta Coating Systems in the 4th quarter valued at approximately $56,215,000. Finally, Deutsche Bank AG lifted its position in Axalta Coating Systems by 144.7% in the 4th quarter. Deutsche Bank AG now owns 1,950,902 shares of the specialty chemicals company's stock valued at $66,760,000 after acquiring an additional 1,153,620 shares in the last quarter. 98.28% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Wall Street Zen lowered shares of Axalta Coating Systems from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Mizuho lowered their price objective on shares of Axalta Coating Systems from $39.00 to $35.00 and set an "outperform" rating for the company in a research note on Tuesday, July 15th. Barclays reduced their target price on shares of Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Finally, BNP Paribas raised shares of 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. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Axalta Coating Systems presently has an average rating of "Moderate Buy" and a consensus target price of $38.80.
Get Our Latest Report on AXTA
Axalta Coating Systems Stock Up 0.5%
Shares of AXTA stock traded up $0.15 on Tuesday, hitting $29.93. The stock had a trading volume of 3,632,623 shares, compared to its average volume of 2,136,790. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.42 and a beta of 1.25. The stock's 50 day moving average is $30.67 and its 200-day moving average is $32.98. 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 52-week low of $27.70 and a 52-week high of $41.66.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.29 billion. Axalta Coating Systems had a net margin of 8.56% and a return on equity of 26.30%. The firm's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, research analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.
About Axalta Coating Systems
(
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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