Massachusetts Financial Services Co. MA reduced its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 5.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,757,329 shares of the specialty chemicals company's stock after selling 278,335 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.18% of Axalta Coating Systems worth $157,801,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Axalta Coating Systems by 3,005.3% during the 1st quarter. GAMMA Investing LLC now owns 76,855 shares of the specialty chemicals company's stock valued at $2,549,000 after buying an additional 74,380 shares during the period. Principal Financial Group Inc. increased its stake in Axalta Coating Systems by 0.4% in the first quarter. Principal Financial Group Inc. now owns 502,087 shares of the specialty chemicals company's stock worth $16,654,000 after purchasing an additional 2,099 shares during the period. DAVENPORT & Co LLC purchased a new stake in Axalta Coating Systems in the first quarter worth $204,000. Allspring Global Investments Holdings LLC purchased a new stake in Axalta Coating Systems in the first quarter worth $572,000. Finally, New York State Teachers Retirement System increased its stake in Axalta Coating Systems by 12.1% in the first quarter. New York State Teachers Retirement System now owns 77,859 shares of the specialty chemicals company's stock worth $2,583,000 after purchasing an additional 8,412 shares during the period. Hedge funds and other institutional investors own 98.28% of the company's stock.
Axalta Coating Systems Price Performance
Shares of AXTA traded down $0.36 during mid-day trading on Friday, hitting $29.71. The company's stock had a trading volume of 3,746,163 shares, compared to its average volume of 2,124,995. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 1.60. The firm has a 50-day simple moving average of $30.67 and a 200 day simple moving average of $32.98. The firm has a market capitalization of $6.49 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.83 and a beta of 1.25. Axalta Coating Systems Ltd. has a 1-year low of $27.70 and a 1-year high of $41.66.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.29 billion. Axalta Coating Systems had a return on equity of 26.30% and a net margin of 8.56%. Axalta Coating Systems's revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. Analysts predict that Axalta Coating Systems Ltd. will post 2.55 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
AXTA has been the topic of a number of recent research reports. BMO Capital Markets downgraded Axalta Coating Systems from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $51.00 to $33.00 in a research report on Wednesday. Mizuho set a $35.00 price target on Axalta Coating Systems and gave the company an "outperform" rating in a research report on Tuesday. JPMorgan Chase & Co. cut Axalta Coating Systems from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $42.00 to $32.00 in a research report on Thursday, May 8th. Citigroup restated a "neutral" rating and issued a $34.00 price objective (down from $35.00) on shares of Axalta Coating Systems in a research report on Friday, June 13th. Finally, Barclays cut their price objective on Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.80.
Read Our Latest Stock Analysis on AXTA
About Axalta Coating Systems
(
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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