Lazard Asset Management LLC cut its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 22.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 39,287 shares of the specialty chemicals company's stock after selling 11,636 shares during the period. Lazard Asset Management LLC's holdings in Axalta Coating Systems were worth $1,344,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its position in shares of Axalta Coating Systems by 60.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock valued at $45,000 after buying an additional 498 shares during the last quarter. UMB Bank n.a. raised its position in shares of Axalta Coating Systems by 35.4% in the fourth quarter. UMB Bank n.a. now owns 2,093 shares of the specialty chemicals company's stock valued at $72,000 after buying an additional 547 shares during the last quarter. Plato Investment Management Ltd raised its position in shares of Axalta Coating Systems by 156.4% in the fourth quarter. Plato Investment Management Ltd now owns 2,238 shares of the specialty chemicals company's stock valued at $77,000 after buying an additional 1,365 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Axalta Coating Systems by 31.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,581 shares of the specialty chemicals company's stock valued at $88,000 after buying an additional 617 shares during the last quarter. Finally, Headlands Technologies LLC raised its position in shares of Axalta Coating Systems by 54.7% in the fourth quarter. Headlands Technologies LLC now owns 3,270 shares of the specialty chemicals company's stock valued at $112,000 after buying an additional 1,156 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on AXTA shares. Mizuho set a $37.00 target price on shares of Axalta Coating Systems in a research report on Tuesday, April 15th. Citigroup reduced their target price on shares of Axalta Coating Systems from $42.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. BNP Paribas upgraded shares of Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 target price for the company in a research report on Thursday, April 10th. Barclays dropped 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 report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $42.00 to $32.00 in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Axalta Coating Systems presently has a consensus rating of "Moderate Buy" and an average target price of $40.38.
Get Our Latest Stock Analysis on Axalta Coating Systems
Axalta Coating Systems Trading Down 2.0%
AXTA stock traded down $0.63 during mid-day trading on Friday, hitting $30.94. 2,108,841 shares of the company were exchanged, compared to its average volume of 2,030,851. The company has a quick ratio of 1.47, a current ratio of 2.01 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $6.76 billion, a P/E ratio of 17.38, a PEG ratio of 0.92 and a beta of 1.35. The business has a fifty day simple moving average of $32.04 and a 200-day simple moving average of $35.20. Axalta Coating Systems Ltd. has a 12-month low of $27.70 and a 12-month high of $41.66.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share 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 analyst estimates of $1.29 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. Axalta Coating Systems's revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. On average, equities research analysts predict that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.
Axalta Coating Systems Profile
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Free Report)
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.
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