Axalta Coating Systems Ltd. $AXTA Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in Axalta Coating Systems by 4.1% in the first quarter, owning nearly 2 million shares valued at approximately $66 million.
• Insider activity included SVP Amy Tufano selling 3,194 shares for about $99,205, reducing her ownership by 20.90%.
• Axalta Coating Systems reported a net margin of 8.58% and a return on equity of 25.32% for the quarter ending July 30, though revenue was down 3.4% year-over-year.

Northern Trust Corp grew its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,992,499 shares of the specialty chemicals company's stock after purchasing an additional 78,915 shares during the period. Northern Trust Corp owned about 0.91% of Axalta Coating Systems worth $66,091,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXTA. Financial Management Professionals Inc. increased its stake in Axalta Coating Systems by 11,757.1% in the first quarter. Financial Management Professionals Inc. now owns 830 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 823 shares during the period. Golden State Wealth Management LLC increased its stake in Axalta Coating Systems by 105.9% in the first 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. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Axalta Coating Systems by 951.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,325 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 1,199 shares during the period. UMB Bank n.a. increased its stake in Axalta Coating Systems by 31.1% in the first quarter. UMB Bank n.a. now owns 2,744 shares of the specialty chemicals company's stock worth $91,000 after purchasing an additional 651 shares during the period. Finally, Fifth Third Bancorp increased its stake in Axalta Coating Systems by 12.1% in the first 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. Hedge funds and other institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Stock Up 0.9%

Shares of NYSE:AXTA traded up $0.28 on Friday, reaching $31.24. The company had a trading volume of 1,300,096 shares, compared to its average volume of 2,645,609. Axalta Coating Systems Ltd. has a 52-week low of $27.58 and a 52-week high of $41.65. The firm's 50 day simple moving average is $30.00 and its 200-day simple moving average is $31.65. The firm has a market capitalization of $6.77 billion, a PE ratio of 15.31, a PEG ratio of 1.81 and a beta of 1.28. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 1.47.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.03. Axalta Coating Systems had a return on equity of 25.32% and a net margin of 8.58%.The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $0.57 EPS. The business's revenue was down 3.4% compared to the same quarter last year. Axalta Coating Systems has set its FY 2025 guidance at 2.450-2.550 EPS. Q3 2025 guidance at 0.630-0.670 EPS. 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

AXTA has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their target price on Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft downgraded Axalta Coating Systems from a "buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research report on Friday, July 18th. Wall Street Zen downgraded Axalta Coating Systems from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley dropped their price target on 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. Finally, BMO Capital Markets downgraded Axalta Coating Systems from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $51.00 to $33.00 in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.71.

Insider Buying and Selling at Axalta Coating Systems

In other news, SVP Amy Tufano sold 3,194 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $31.06, for a total value of $99,205.64. Following the completion of the sale, the senior vice president owned 12,087 shares of the company's stock, valued at $375,422.22. This trade represents a 20.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

Axalta Coating Systems Company Profile

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.