Summit Trail Advisors LLC bought a new stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,907 shares of the specialty chemicals company's stock, valued at approximately $627,000.
Several other large investors have also modified their holdings of the stock. New York State Teachers Retirement System boosted its holdings in Axalta Coating Systems by 12.1% during 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 buying an additional 8,412 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Axalta Coating Systems during the 1st quarter worth approximately $572,000. Golden State Wealth Management LLC grew its holdings in shares of 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 acquiring an additional 488 shares during the period. Shelton Wealth Management LLC grew its holdings in shares of Axalta Coating Systems by 288.1% in the 1st quarter. Shelton Wealth Management LLC now owns 25,848 shares of the specialty chemicals company's stock worth $857,000 after acquiring an additional 19,188 shares during the period. Finally, Blue Trust Inc. increased its stake in Axalta Coating Systems by 57.6% in the 1st quarter. Blue Trust Inc. now owns 6,796 shares of the specialty chemicals company's stock valued at $225,000 after purchasing an additional 2,483 shares in the last quarter. Hedge funds and other institutional investors own 98.28% of the company's stock.
Axalta Coating Systems Trading Up 2.4%
NYSE:AXTA traded up $0.74 during mid-day trading on Wednesday, reaching $31.24. The company's stock had a trading volume of 2,625,894 shares, compared to its average volume of 2,095,831. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.12 and a quick ratio of 1.53. The stock has a market cap of $6.83 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.84 and a beta of 1.25. The company's fifty day simple moving average is $31.10 and its two-hundred day simple moving average is $33.37. Axalta Coating Systems Ltd. has a twelve month low of $27.70 and a twelve month high of $41.66.
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, topping the consensus estimate 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 business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same period last year, the company earned $0.48 earnings per share. The company's quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts predict that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.
Analysts Set New Price Targets
A number of analysts have commented on the company. 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 decreased their price objective 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. BNP Paribas raised shares of Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price objective on the stock in a research note on Thursday, April 10th. Barclays cut their target price on shares of 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. Finally, Mizuho set a $37.00 price target on shares of Axalta Coating Systems in a report on Tuesday, April 15th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Axalta Coating Systems has a consensus rating of "Moderate Buy" and an average price target of $40.44.
Read Our Latest Stock Analysis on Axalta Coating Systems
Axalta Coating Systems Company Profile
(
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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