Legal & General Group Plc Takes Position in Axalta Coating Systems Ltd. $AXTA

Key Points

• Legal & General Group acquired 294,172 Axalta shares worth approximately $10.1 million in the second quarter, while institutional investors collectively owned 98.28% of the company.
• Analyst sentiment remains cautious: Axalta has a consensus “Hold” rating and an average price target of $36, despite Citigroup’s $44 buy-rated target.
• Axalta exceeded quarterly expectations, reporting $0.72 in earnings per share versus $0.65 expected and $1.35 billion in revenue, up 3.1% year over year.

Legal & General Group Plc acquired a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 294,172 shares of the specialty chemicals company's stock, valued at approximately $10,067,000. Legal & General Group Plc owned 0.14% of Axalta Coating Systems as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company acquired a new position in Axalta Coating Systems during the second quarter worth $3,111,000. Cetera Trust Company N.A acquired a new position in Axalta Coating Systems during the 2nd quarter worth about $323,000. Cullen Capital Management LLC purchased a new position in Axalta Coating Systems during the 2nd quarter valued at about $3,339,000. Parsifal Capital Management LP purchased a new position in Axalta Coating Systems during the 2nd quarter valued at about $82,069,655. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Axalta Coating Systems in the 2nd quarter valued at about $686,000. Institutional investors and hedge funds own 98.28% of the company's stock.

Analyst Upgrades and Downgrades

AXTA has been the topic of a number of recent research reports. Royal Bank Of Canada boosted their price target on shares of Axalta Coating Systems from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 8th. Robert W. Baird lifted their price objective on shares of Axalta Coating Systems from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. BMO Capital Markets upped their target price on shares of Axalta Coating Systems from $35.00 to $39.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 29th. Citigroup initiated coverage on shares of Axalta Coating Systems in a report on Thursday, June 4th. They set a "buy" rating and a $44.00 target price on the stock. Finally, Weiss Ratings raised shares of Axalta Coating Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Axalta Coating Systems has a consensus rating of "Hold" and an average price target of $36.00.

Axalta Coating Systems Trading Down 1.4%

NYSE:AXTA opened at $36.52 on Tuesday. The company has a market capitalization of $7.82 billion, a PE ratio of 22.54, a P/E/G ratio of 1.83 and a beta of 1.24. Axalta Coating Systems Ltd. has a 52-week low of $24.94 and a 52-week high of $38.61. The stock's 50 day moving average price is $35.00 and its 200 day moving average price is $31.77. The company has a quick ratio of 1.12, a current ratio of 1.53 and a debt-to-equity ratio of 0.99.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. Axalta Coating Systems had a return on equity of 22.35% and a net margin of 6.78%.The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. Axalta Coating Systems has set its FY 2026 guidance at 2.550-2.700 EPS and its Q3 2026 guidance at 0.700-0.700 EPS. On average, research analysts anticipate that Axalta Coating Systems Ltd. will post 2.63 EPS for the current year.

Axalta Coating Systems Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company's product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.

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