Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. has reduced its stake in Axalta Coating Systems by 68.7%, selling over 1.1 million shares and now owning approximately 507,480 shares worth about $16.8 million.
• Several hedge funds have increased their positions in Axalta Coating Systems, with LPL Financial and O Shaughnessy Asset Management boosting their stakes by 46.1% and 36.1%, respectively, during the fourth quarter.
• Analysts have mixed opinions on Axalta, with BNP Paribas upgrading the stock to "outperform" while other firms, including BMO Capital Markets, have lowered their ratings and price targets.

Jupiter Asset Management Ltd. decreased its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 68.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 507,480 shares of the specialty chemicals company's stock after selling 1,112,979 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.23% of Axalta Coating Systems worth $16,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXTA. Financial Management Professionals Inc. lifted its stake in shares of Axalta Coating Systems by 11,757.1% during the 1st quarter. Financial Management Professionals Inc. now owns 830 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 823 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Axalta Coating Systems by 105.9% during the 1st quarter. Golden State Wealth Management LLC now owns 949 shares of the specialty chemicals company's stock worth $31,000 after purchasing an additional 488 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Axalta Coating Systems by 31.1% during the 1st quarter. UMB Bank n.a. now owns 2,744 shares of the specialty chemicals company's stock worth $91,000 after purchasing an additional 651 shares during the last quarter. Headlands Technologies LLC lifted its stake in shares of Axalta Coating Systems by 54.7% during the 4th quarter. Headlands Technologies LLC now owns 3,270 shares of the specialty chemicals company's stock worth $112,000 after purchasing an additional 1,156 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in Axalta Coating Systems by 12.1% in the first quarter. Fifth Third Bancorp now owns 3,704 shares of the specialty chemicals company's stock valued at $123,000 after buying an additional 401 shares during the last quarter. Institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Stock Performance

NYSE:AXTA traded up $0.08 during trading hours on Thursday, reaching $28.55. The company had a trading volume of 163,309 shares, compared to its average volume of 2,382,523. Axalta Coating Systems Ltd. has a 1-year low of $27.58 and a 1-year high of $41.65. The firm has a market cap of $6.18 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.37 and a beta of 1.27. The business's 50 day moving average price is $29.95 and its 200-day moving average price is $32.52. 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 announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.03. Axalta Coating Systems had a return on equity of 25.32% and a net margin of 8.58%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $0.57 earnings per share. Axalta Coating Systems's revenue for the quarter was down 3.4% on a year-over-year basis. Research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BNP Paribas raised Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price target for the company in a report on Thursday, April 10th. Wells Fargo & Company lowered their price target on Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. Wall Street Zen downgraded Axalta Coating Systems from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Mizuho lowered their price target on Axalta Coating Systems from $39.00 to $35.00 and set an "outperform" rating for the company in a report on Tuesday, July 15th. Finally, Barclays lowered their price target on Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Seven investment 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $37.71.

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.