Marathon Asset Management Ltd trimmed its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,720 shares of the specialty chemicals company's stock after selling 40,819 shares during the quarter. Marathon Asset Management Ltd owned about 0.18% of Axalta Coating Systems worth $12,695,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXTA. Allspring Global Investments Holdings LLC acquired a new stake in shares of Axalta Coating Systems during the first quarter worth $572,000. Golden State Wealth Management LLC lifted its holdings in shares of Axalta Coating Systems by 105.9% during the first quarter. Golden State Wealth Management LLC now owns 949 shares of the specialty chemicals company's stock worth $31,000 after buying an additional 488 shares in the last quarter. Shelton Wealth Management LLC lifted its holdings in shares of Axalta Coating Systems by 288.1% during the first quarter. Shelton Wealth Management LLC now owns 25,848 shares of the specialty chemicals company's stock worth $857,000 after buying an additional 19,188 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Axalta Coating Systems by 57.6% during the first quarter. Blue Trust Inc. now owns 6,796 shares of the specialty chemicals company's stock worth $225,000 after buying an additional 2,483 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Axalta Coating Systems by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 25,540 shares of the specialty chemicals company's stock worth $847,000 after buying an additional 675 shares in the last quarter. 98.28% of the stock is owned by institutional investors.
Axalta Coating Systems Stock Performance
Axalta Coating Systems stock opened at $29.89 on Friday. Axalta Coating Systems Ltd. has a 12-month low of $27.70 and a 12-month high of $41.66. The company has a quick ratio of 1.53, a current ratio of 2.12 and a debt-to-equity ratio of 1.60. The business's 50-day moving average price is $31.15 and its two-hundred day moving average price is $33.53. The stock has a market cap of $6.53 billion, a PE ratio of 14.58, a P/E/G ratio of 0.85 and a beta of 1.27.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a return on equity of 26.30% and a net margin of 8.56%. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business's revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their target price on Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Citigroup reaffirmed a "neutral" rating and issued a $34.00 price target (down previously from $35.00) on shares of Axalta Coating Systems in a research note on Friday, June 13th. 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 research note on Thursday, April 10th. Mizuho set a $37.00 price target on Axalta Coating Systems in a research note on Tuesday, April 15th. Finally, Wall Street Zen downgraded Axalta Coating Systems from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $40.50.
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About Axalta Coating Systems
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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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