Knightsbridge Asset Management LLC Sells 13,571 Shares of Axalta Coating Systems Ltd. $AXTA

Key Points

• Knightsbridge Asset Management LLC decreased its stake in Axalta Coating Systems by 6.9%, selling 13,571 shares, which now accounts for 1.5% of their portfolio.
• Wall Street analysts have recently revised their price targets for Axalta Coating Systems, with Mizuho lowering it from $39.00 to $35.00 while maintaining an "outperform" rating.
• Axalta reported earnings of $0.64 per share in its recent quarter, exceeding estimates but showing a 3.4% revenue decline year-over-year, with an EPS guidance for FY 2025 set at 2.450-2.550.

Knightsbridge Asset Management LLC trimmed its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,230 shares of the specialty chemicals company's stock after selling 13,571 shares during the quarter. Axalta Coating Systems comprises about 1.5% of Knightsbridge Asset Management LLC's investment portfolio, making the stock its 22nd biggest holding. Knightsbridge Asset Management LLC owned about 0.08% of Axalta Coating Systems worth $6,111,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in Axalta Coating Systems in the first quarter worth about $57,682,000. SG Americas Securities LLC purchased a new position in shares of Axalta Coating Systems during the first quarter valued at approximately $55,876,000. Fuller & Thaler Asset Management Inc. boosted its position in shares of Axalta Coating Systems by 29.8% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,250,351 shares of the specialty chemicals company's stock worth $240,494,000 after purchasing an additional 1,663,261 shares in the last quarter. Millennium Management LLC grew its stake in shares of Axalta Coating Systems by 89.0% in the 1st quarter. Millennium Management LLC now owns 3,087,211 shares of the specialty chemicals company's stock worth $102,403,000 after buying an additional 1,453,551 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Axalta Coating Systems by 144.7% during the 4th quarter. Deutsche Bank AG now owns 1,950,902 shares of the specialty chemicals company's stock valued at $66,760,000 after buying an additional 1,153,620 shares in the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axalta Coating Systems

In other news, SVP Amy Tufano sold 3,194 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $31.06, for a total value of $99,205.64. Following the transaction, the senior vice president owned 12,087 shares in the company, valued at $375,422.22. This represents a 20.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft downgraded Axalta Coating Systems from a "buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a report on Friday, July 18th. Wells Fargo & Company cut their price objective on shares of Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. Royal Bank Of Canada reduced their price objective on shares of Axalta Coating Systems from $37.00 to $34.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Mizuho dropped their target price on shares of Axalta Coating Systems from $39.00 to $35.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 15th. Finally, Zacks Research upgraded shares of Axalta Coating Systems from a "strong sell" rating to a "hold" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.71.

Axalta Coating Systems Stock Performance

NYSE:AXTA traded down $0.42 during trading hours on Friday, reaching $31.36. The company had a trading volume of 428,001 shares, compared to its average volume of 2,399,033. The firm's 50 day moving average price is $30.22 and its 200-day moving average price is $31.38. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.80 and a beta of 1.28. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 1.47. Axalta Coating Systems Ltd. has a 52 week low of $27.58 and a 52 week high of $41.65.

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 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.33 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. Axalta Coating Systems's revenue was down 3.4% compared to the same quarter last year. Axalta Coating Systems has set its FY 2025 guidance at 2.450-2.550 EPS. Q3 2025 guidance at 0.630-0.670 EPS. On average, analysts forecast that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

Axalta Coating Systems 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.