Deutsche Bank AG Trims Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Key Points

• Deutsche Bank AG has reduced its stock holdings in Axalta Coating Systems by 4.0%, maintaining ownership of approximately $62.10 million in shares.
• Several other investors made significant changes to their positions, with some increasing their holdings in Axalta Coating Systems by over 397% during the same quarter.
• Analysts have mixed ratings on Axalta, with a consensus rating of "Moderate Buy" and a price target averaging $37.71, after several price targets were revised downwards.

Deutsche Bank AG lowered its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,872,205 shares of the specialty chemicals company's stock after selling 78,697 shares during the period. Deutsche Bank AG owned approximately 0.86% of Axalta Coating Systems worth $62,101,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Fuller & Thaler Asset Management Inc. boosted its stake in Axalta Coating Systems by 54.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,587,090 shares of the specialty chemicals company's stock worth $191,190,000 after acquiring an additional 1,980,296 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Axalta Coating Systems by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,874,038 shares of the specialty chemicals company's stock worth $132,568,000 after acquiring an additional 93,298 shares in the last quarter. Interval Partners LP boosted its stake in Axalta Coating Systems by 20.1% during the fourth quarter. Interval Partners LP now owns 2,461,936 shares of the specialty chemicals company's stock worth $84,247,000 after acquiring an additional 411,886 shares in the last quarter. Northern Trust Corp boosted its stake in Axalta Coating Systems by 22.4% during the fourth quarter. Northern Trust Corp now owns 1,913,584 shares of the specialty chemicals company's stock worth $65,483,000 after acquiring an additional 350,314 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Axalta Coating Systems by 12.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,763,973 shares of the specialty chemicals company's stock worth $60,364,000 after acquiring an additional 198,551 shares in the last quarter. Institutional investors own 98.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays dropped their price objective on shares of Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft cut shares of Axalta Coating Systems from a "buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a report on Friday, July 18th. Royal Bank Of Canada cut their price target on shares of Axalta Coating Systems from $37.00 to $34.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. JPMorgan Chase & Co. cut shares of Axalta Coating Systems from an "overweight" rating to a "neutral" rating and cut their price target for the company from $42.00 to $32.00 in a report on Thursday, May 8th. Finally, Wall Street Zen cut shares of Axalta Coating Systems from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $37.71.

Axalta Coating Systems Stock Performance

Axalta Coating Systems stock traded down $0.22 during midday trading on Friday, reaching $30.40. 3,771,219 shares of the company traded hands, compared to its average volume of 3,203,483. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. The business has a 50 day moving average of $29.72 and a two-hundred day moving average of $32.14. Axalta Coating Systems Ltd. has a 12 month low of $27.58 and a 12 month high of $41.65. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.12 and a quick ratio of 1.53.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.03. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Axalta Coating Systems had a net margin of 8.58% and a return on equity of 25.32%. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. As a group, research analysts predict that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

About Axalta Coating Systems

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.