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 first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,230 shares of the specialty chemicals company's stock after selling 13,571 shares during the period. Axalta Coating Systems makes up 1.5% of Knightsbridge Asset Management LLC's investment portfolio, making the stock its 22nd biggest holding. Knightsbridge Asset Management LLC owned approximately 0.08% of Axalta Coating Systems worth $6,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Axalta Coating Systems during the 1st quarter valued at about $57,682,000. SG Americas Securities LLC bought a new position in shares of Axalta Coating Systems during the first quarter valued at about $55,876,000. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Axalta Coating Systems by 29.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,250,351 shares of the specialty chemicals company's stock worth $240,494,000 after buying an additional 1,663,261 shares during the period. Millennium Management LLC increased its holdings in shares of Axalta Coating Systems by 89.0% in the first 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 period. Finally, Deutsche Bank AG lifted its stake in shares of Axalta Coating Systems by 144.7% in 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 acquiring an additional 1,153,620 shares during the last quarter. Institutional investors own 98.28% of the company's stock.

Insider Activity

In related news, SVP Amy Tufano sold 3,194 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $31.06, for a total value of $99,205.64. Following the completion of the transaction, the senior vice president directly owned 12,087 shares of the company's stock, valued at $375,422.22. This represents a 20.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by corporate insiders.

Axalta Coating Systems Trading Down 1.5%

Shares of Axalta Coating Systems stock traded down $0.46 during midday trading on Wednesday, reaching $30.95. 1,675,891 shares of the company's stock traded hands, compared to its average volume of 2,444,822. The stock has a 50 day moving average of $30.21 and a 200-day moving average of $31.41. Axalta Coating Systems Ltd. has a 12 month low of $27.58 and a 12 month high of $41.65. The company has a market cap of $6.70 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.53 and a current ratio of 2.12.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. Axalta Coating Systems had a net margin of 8.58% and a return on equity of 25.32%. The business had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the previous year, the business posted $0.57 earnings per share. The firm's revenue for the quarter 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. As a group, equities analysts expect that Axalta Coating Systems Ltd. will post 2.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AXTA shares. Wells Fargo & Company reduced their price target on 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. Mizuho dropped their price objective on Axalta Coating Systems from $39.00 to $35.00 and set an "outperform" rating for the company in a research note on Tuesday, July 15th. BMO Capital Markets cut shares of Axalta Coating Systems from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $51.00 to $33.00 in a report on Wednesday, July 16th. Royal Bank Of Canada lowered their price target on shares of Axalta Coating Systems from $37.00 to $34.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Axalta Coating Systems from a "buy" rating to a "hold" rating and set a $32.00 price target for the company. in a research report on Friday, July 18th. 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. Based on data from MarketBeat.com, Axalta Coating Systems currently has a consensus rating of "Moderate Buy" and an average price target of $37.71.

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.