Bank of New York Mellon Corp Has $36.81 Million Stock Position in Axalta Coating Systems Ltd. $AXTA

Key Points

• Bank of New York Mellon cut its Axalta Coating Systems stake by 19.3% in the first quarter, though it still held 1,328,994 shares valued at about $36.8 million.
• Axalta reported Q1 earnings of $0.56 per share, topping estimates of $0.50, and revenue of $1.25 billion, also ahead of expectations.
• Analyst sentiment is mixed but leaning cautious: the stock has a consensus Hold rating, even after recent target hikes from firms like Mizuho and Citigroup.

Bank of New York Mellon Corp decreased its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,328,994 shares of the specialty chemicals company's stock after selling 318,340 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.62% of Axalta Coating Systems worth $36,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXTA. Covestor Ltd grew its holdings in Axalta Coating Systems by 197.7% during the 4th quarter. Covestor Ltd now owns 908 shares of the specialty chemicals company's stock worth $29,000 after acquiring an additional 603 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Axalta Coating Systems in the 4th quarter valued at approximately $30,000. Cedar Mountain Advisors LLC bought a new stake in shares of Axalta Coating Systems in the first quarter worth $30,000. Summit Securities Group LLC acquired a new stake in shares of Axalta Coating Systems in the fourth quarter valued at about $32,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Axalta Coating Systems during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 98.28% of the company's stock.

Axalta Coating Systems Trading Up 3.4%

NYSE:AXTA opened at $32.76 on Friday. Axalta Coating Systems Ltd. has a one year low of $24.94 and a one year high of $35.72. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.10 and a quick ratio of 1.53. The firm has a market capitalization of $7.01 billion, a P/E ratio of 19.16, a PEG ratio of 1.60 and a beta of 1.24. The company's 50-day simple moving average is $32.35 and its 200 day simple moving average is $31.23.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The specialty chemicals company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. Axalta Coating Systems had a net margin of 7.22% and a return on equity of 22.37%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm earned $0.59 earnings per share. The firm's quarterly revenue was down .6% compared to the same quarter last year. Axalta Coating Systems has set its FY 2026 guidance at 2.550-2.70 EPS and its Q2 2026 guidance at 0.650-0.65 EPS. As a group, analysts forecast that Axalta Coating Systems Ltd. will post 2.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on AXTA shares. Mizuho lifted their target price on shares of Axalta Coating Systems from $32.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Citigroup began coverage on Axalta Coating Systems in a report on Thursday, June 4th. They issued a "buy" rating and a $44.00 target price for the company. The Goldman Sachs Group set a $36.00 price target on shares of Axalta Coating Systems in a research report on Friday, May 1st. Wells Fargo & Company lowered Axalta Coating Systems from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $39.00 to $30.00 in a research report on Friday, April 10th. Finally, UBS Group lifted their target price on Axalta Coating Systems from $31.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $35.67.

Axalta Coating Systems Company Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company's product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.

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