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New York State Teachers Retirement System Acquires 8,412 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Axalta Coating Systems logo with Basic Materials background

New York State Teachers Retirement System lifted its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 12.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,859 shares of the specialty chemicals company's stock after purchasing an additional 8,412 shares during the period. New York State Teachers Retirement System's holdings in Axalta Coating Systems were worth $2,583,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AXTA. ProShare Advisors LLC grew its holdings in shares of Axalta Coating Systems by 2.9% in the 4th quarter. ProShare Advisors LLC now owns 12,242 shares of the specialty chemicals company's stock valued at $419,000 after buying an additional 343 shares during the period. Fifth Third Bancorp boosted its stake in Axalta Coating Systems by 12.1% in the 1st quarter. Fifth Third Bancorp now owns 3,704 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 401 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Axalta Coating Systems by 3.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,691 shares of the specialty chemicals company's stock worth $469,000 after purchasing an additional 431 shares during the period. Golden State Wealth Management LLC boosted its stake in Axalta Coating Systems by 105.9% in the 1st quarter. Golden State Wealth Management LLC now owns 949 shares of the specialty chemicals company's stock worth $31,000 after purchasing an additional 488 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in Axalta Coating Systems by 60.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 498 shares during the period. Institutional investors and hedge funds own 98.28% of the company's stock.

Analysts Set New Price Targets

AXTA has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Axalta Coating Systems from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Citigroup reissued a "neutral" rating and set a $34.00 price target (down from $35.00) on shares of Axalta Coating Systems in a research report on Friday, June 13th. JPMorgan Chase & Co. cut shares of Axalta Coating Systems from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $42.00 to $32.00 in a research report on Thursday, May 8th. Mizuho set a $37.00 price target on shares of Axalta Coating Systems in a research report on Tuesday, April 15th. Finally, Morgan Stanley cut their price target on shares of Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Five equities research 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.60.

Get Our Latest Report on Axalta Coating Systems

Axalta Coating Systems Stock Performance

AXTA traded down $0.42 on Friday, reaching $30.52. The company had a trading volume of 1,375,766 shares, compared to its average volume of 2,094,294. Axalta Coating Systems Ltd. has a fifty-two week low of $27.70 and a fifty-two week high of $41.66. The stock has a market cap of $6.67 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.87 and a beta of 1.25. The company's fifty day moving average is $30.93 and its 200 day moving average is $33.16. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.53 and a current ratio of 2.12.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a net margin of 8.56% and a return on equity of 26.30%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business's revenue was down 2.5% compared to the same quarter last year. As a group, analysts predict that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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