Axalta Coating Systems Ltd. $AXTA Shares Acquired by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Axalta Coating Systems Ltd. by 1.2%, owning 1,785,263 shares valued at approximately $59.22 million.
• Axalta Coating Systems reported earnings of $0.64 per share for the last quarter, surpassing estimates, although revenue fell short of expectations at $1.32 billion.
• Analysts have mixed ratings for Axalta, with a consensus rating of "Moderate Buy" and a target price averaging $37.71.

Price T Rowe Associates Inc. MD lifted its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,785,263 shares of the specialty chemicals company's stock after buying an additional 21,290 shares during the period. Price T Rowe Associates Inc. MD owned about 0.82% of Axalta Coating Systems worth $59,218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Axalta Coating Systems by 3,005.3% in the first quarter. GAMMA Investing LLC now owns 76,855 shares of the specialty chemicals company's stock worth $2,549,000 after acquiring an additional 74,380 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Axalta Coating Systems by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 502,087 shares of the specialty chemicals company's stock valued at $16,654,000 after purchasing an additional 2,099 shares during the last quarter. DAVENPORT & Co LLC purchased a new position in shares of Axalta Coating Systems in the 1st quarter worth approximately $204,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Axalta Coating Systems in the 1st quarter worth approximately $572,000. Finally, New York State Teachers Retirement System increased its position in shares of Axalta Coating Systems by 12.1% during the 1st quarter. New York State Teachers Retirement System now owns 77,859 shares of the specialty chemicals company's stock valued at $2,583,000 after purchasing an additional 8,412 shares during the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AXTA shares. Royal Bank Of Canada lowered their price target on Axalta Coating Systems from $37.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday, August 1st. Citigroup restated a "neutral" rating and issued a $34.00 target price (down previously from $35.00) on shares of Axalta Coating Systems in a report on Friday, June 13th. The Goldman Sachs Group dropped their price target on shares of Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft lowered shares of Axalta Coating Systems from a "buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a research report on Friday, July 18th. Finally, BMO Capital Markets lowered Axalta Coating Systems from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $51.00 to $33.00 in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Axalta Coating Systems currently has an average rating of "Moderate Buy" and an average price target of $37.71.

Axalta Coating Systems Trading Up 0.9%

AXTA stock traded up $0.28 during mid-day trading on Friday, reaching $31.24. The company had a trading volume of 1,300,096 shares, compared to its average volume of 2,737,749. The company has a market capitalization of $6.77 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The firm has a 50 day moving average of $30.00 and a 200 day moving average of $31.72. Axalta Coating Systems Ltd. has a 12 month low of $27.58 and a 12 month high of $41.65. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.12 and a quick ratio of 1.53.

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 firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. Axalta Coating Systems's quarterly revenue was down 3.4% on a year-over-year basis. Axalta Coating Systems has set its FY 2025 guidance at 2.450-2.550 EPS. Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts predict that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Axalta Coating Systems

In related news, SVP Amy Tufano sold 3,194 shares of Axalta Coating Systems stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $31.06, for a total transaction of $99,205.64. Following the transaction, the senior vice president directly owned 12,087 shares of the company's stock, valued at $375,422.22. This trade represents a 20.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company's stock.

About Axalta Coating Systems

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.