Trinity Street Asset Management LLP Takes Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Trinity Street Asset Management LLP bought a new stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 492,845 shares of the specialty chemicals company's stock, valued at approximately $16,348,000. Axalta Coating Systems accounts for 1.7% of Trinity Street Asset Management LLP's holdings, making the stock its 15th largest position. Trinity Street Asset Management LLP owned about 0.23% of Axalta Coating Systems as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Jones Financial Companies Lllp grew its position in Axalta Coating Systems by 60.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock worth $45,000 after acquiring an additional 498 shares in the last quarter. Plato Investment Management Ltd lifted its stake in shares of Axalta Coating Systems by 156.4% in the 4th quarter. Plato Investment Management Ltd now owns 2,238 shares of the specialty chemicals company's stock valued at $77,000 after purchasing an additional 1,365 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Axalta Coating Systems by 31.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,581 shares of the specialty chemicals company's stock worth $88,000 after purchasing an additional 617 shares in the last quarter. Headlands Technologies LLC increased its position in Axalta Coating Systems by 54.7% during the fourth quarter. Headlands Technologies LLC now owns 3,270 shares of the specialty chemicals company's stock worth $112,000 after buying an additional 1,156 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Axalta Coating Systems by 1,584.8% during the fourth quarter. Blue Trust Inc. now owns 4,313 shares of the specialty chemicals company's stock worth $148,000 after buying an additional 4,057 shares during the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AXTA shares. Morgan Stanley decreased their price target on Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Citigroup lowered their price target on Axalta Coating Systems from $42.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Axalta Coating Systems from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. The Goldman Sachs Group decreased their price objective on shares of Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Finally, Mizuho set a $37.00 target price on shares of Axalta Coating Systems in a research note on Tuesday, April 15th. Six 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 stock has an average rating of "Moderate Buy" and a consensus target price of $40.38.

Axalta Coating Systems Stock Performance

Shares of AXTA stock traded down $0.36 during mid-day trading on Thursday, reaching $30.29. The stock had a trading volume of 1,557,697 shares, compared to its average volume of 2,044,559. Axalta Coating Systems Ltd. has a one year low of $27.70 and a one year high of $41.66. The firm has a market cap of $6.62 billion, a PE ratio of 17.02, a P/E/G ratio of 0.92 and a beta of 1.35. The firm's 50 day simple moving average is $31.57 and its 200 day simple moving average is $34.73. The company has a quick ratio of 1.47, a current ratio of 2.01 and a debt-to-equity ratio of 1.74.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 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 26.29% and a net margin of 7.41%. Axalta Coating Systems's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. On average, analysts forecast that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

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.