Victory Capital Management Inc. Has $367.13 Million Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Victory Capital Management Inc. trimmed its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,068,101 shares of the specialty chemicals company's stock after selling 253,893 shares during the period. Victory Capital Management Inc. owned 5.06% of Axalta Coating Systems worth $367,129,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Axalta Coating Systems in the 4th quarter valued at about $87,850,000. Fuller & Thaler Asset Management Inc. increased its stake in Axalta Coating Systems by 54.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,587,090 shares of the specialty chemicals company's stock valued at $191,190,000 after acquiring an additional 1,980,296 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Axalta Coating Systems during the first quarter valued at about $55,876,000. Balyasny Asset Management L.P. purchased a new stake in shares of Axalta Coating Systems during the fourth quarter worth about $56,215,000. Finally, Deutsche Bank AG raised its stake in Axalta Coating Systems by 144.7% in the fourth quarter. Deutsche Bank AG now owns 1,950,902 shares of the specialty chemicals company's stock worth $66,760,000 after buying an additional 1,153,620 shares in the last quarter. 98.28% of the stock is owned by institutional investors.

Axalta Coating Systems Trading Down 1.2%

Shares of AXTA stock traded down $0.36 during trading hours on Friday, reaching $29.71. The company's stock had a trading volume of 3,746,163 shares, compared to its average volume of 2,130,960. The firm's fifty day simple moving average is $30.67 and its 200 day simple moving average is $32.99. The stock has a market capitalization of $6.49 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.84 and a beta of 1.25. Axalta Coating Systems Ltd. has a one year low of $27.70 and a one year high of $41.66. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 1.60.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its quarterly earnings data 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 return on equity of 26.30% and a net margin of 8.56%. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Axalta Coating Systems's revenue was down 2.5% compared to the same quarter last year. Equities research analysts expect that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Axalta Coating Systems from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $42.00 to $32.00 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 target for the company in a report on Thursday, April 10th. BMO Capital Markets cut Axalta Coating Systems from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $51.00 to $33.00 in a research report on Wednesday. Wells Fargo & Company dropped their price target on Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. Finally, Mizuho set a $35.00 price target on Axalta Coating Systems and gave the company an "outperform" rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.80.

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.