Bank of New York Mellon Corp Invests $43.20 Million in Axalta Coating Systems Ltd. $AXTA

Bank of New York Mellon Corp bought a new stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,262,561 shares of the specialty chemicals company's stock, valued at approximately $43,205,000. Bank of New York Mellon Corp owned 0.59% of Axalta Coating Systems at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Axalta Coating Systems during the second quarter worth about $214,000. Versant Capital Management Inc boosted its holdings in Axalta Coating Systems by 24.5% in the second quarter. Versant Capital Management Inc now owns 6,107 shares of the specialty chemicals company's stock valued at $209,000 after purchasing an additional 1,202 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Axalta Coating Systems by 82.3% in the first quarter. Glenmede Trust Co. NA now owns 14,258 shares of the specialty chemicals company's stock valued at $395,000 after purchasing an additional 6,435 shares during the last quarter. Janus Henderson Group PLC grew its stake in Axalta Coating Systems by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 1,036,806 shares of the specialty chemicals company's stock valued at $28,735,000 after purchasing an additional 39,385 shares in the last quarter. Finally, Bull Harbor Capital LLC acquired a new stake in Axalta Coating Systems during the 1st quarter valued at approximately $489,000. 98.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on AXTA. Royal Bank Of Canada increased their price objective on shares of Axalta Coating Systems from $34.00 to $36.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 8th. The Goldman Sachs Group set a $36.00 target price on shares of Axalta Coating Systems in a research report on Friday, May 1st. Robert W. Baird upped their target price on shares of Axalta Coating Systems from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Citigroup initiated coverage on shares of Axalta Coating Systems in a research report on Thursday, June 4th. They set a "buy" rating and a $44.00 price target on the stock. Finally, Weiss Ratings upgraded Axalta Coating Systems from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $36.00.

Axalta Coating Systems Trading Up 0.3%

Axalta Coating Systems stock opened at $36.72 on Friday. The firm's 50-day moving average is $34.91 and its 200-day moving average is $31.74. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.12 and a current ratio of 1.53. Axalta Coating Systems Ltd. has a 1 year low of $24.94 and a 1 year high of $38.61. The company has a market cap of $7.86 billion, a P/E ratio of 22.66, a PEG ratio of 1.81 and a beta of 1.24.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Axalta Coating Systems had a net margin of 6.78% and a return on equity of 22.35%. The company's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Axalta Coating Systems has set its FY 2026 guidance at 2.550-2.700 EPS and its Q3 2026 guidance at 0.700-0.700 EPS. On average, equities analysts expect that Axalta Coating Systems Ltd. will post 2.63 earnings per share for the current year.

About Axalta Coating Systems

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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