Bank of New York Mellon Corp Sells 44,264 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Bank of New York Mellon Corp reduced its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,498,507 shares of the specialty chemicals company's stock after selling 44,264 shares during the period. Bank of New York Mellon Corp owned about 0.69% of Axalta Coating Systems worth $49,705,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Financial Management Professionals Inc. boosted its holdings in shares of Axalta Coating Systems by 11,757.1% in the 1st quarter. Financial Management Professionals Inc. now owns 830 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 823 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Axalta Coating Systems by 105.9% during the first quarter. Golden State Wealth Management LLC now owns 949 shares of the specialty chemicals company's stock worth $31,000 after buying an additional 488 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Axalta Coating Systems by 60.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 498 shares in the last quarter. UMB Bank n.a. boosted its holdings in Axalta Coating Systems by 31.1% during the first quarter. UMB Bank n.a. now owns 2,744 shares of the specialty chemicals company's stock worth $91,000 after buying an additional 651 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Axalta Coating Systems by 54.7% during the fourth quarter. Headlands Technologies LLC now owns 3,270 shares of the specialty chemicals company's stock worth $112,000 after buying an additional 1,156 shares in the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXTA has been the topic of several recent analyst reports. BMO Capital Markets downgraded shares of Axalta Coating Systems from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $51.00 to $33.00 in a report on Wednesday. Barclays cut their price objective on shares of Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Morgan Stanley dropped their price target on shares of Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. BNP Paribas upgraded shares of Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price target for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company lowered their price objective on shares of Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.47.

Axalta Coating Systems Price Performance

AXTA traded up $0.16 on Thursday, reaching $30.04. The company had a trading volume of 2,971,911 shares, compared to its average volume of 2,122,374. Axalta Coating Systems Ltd. has a one year low of $27.70 and a one year high of $41.66. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 1.60. The company has a fifty day moving average of $30.70 and a 200-day moving average of $33.02. The company has a market capitalization of $6.56 billion, a P/E ratio of 14.65, a PEG ratio of 0.84 and a beta of 1.25.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.54 by $0.05. The company had revenue of $1.29 billion during 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 business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share. As a group, equities research analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

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.