Voya Investment Management LLC Grows Position in Axalta Coating Systems Ltd. $AXTA

Key Points

• Voya Investment Management LLC increased its holdings in Axalta Coating Systems by 143.0%, owning a total of 92,381 shares worth around $3,064,000 at the end of the first quarter.
• Axalta Coating Systems reported $0.64 earnings per share for the most recent quarter, surpassing estimates, despite a 3.4% revenue decline from the same quarter last year.
• Wells Fargo and other analysts have adjusted their target prices for Axalta, with a consensus rating of "Moderate Buy" and average target price at $37.71.

Voya Investment Management LLC raised its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 143.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,381 shares of the specialty chemicals company's stock after acquiring an additional 54,370 shares during the quarter. Voya Investment Management LLC's holdings in Axalta Coating Systems were worth $3,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Management Professionals Inc. increased its stake in Axalta Coating Systems by 11,757.1% in the 1st quarter. Financial Management Professionals Inc. now owns 830 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 823 shares during the last quarter. Golden State Wealth Management LLC increased its stake in 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 valued at $31,000 after buying an additional 488 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Axalta Coating Systems by 951.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,325 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 1,199 shares during the last quarter. UMB Bank n.a. increased its stake in Axalta Coating Systems by 31.1% in the 1st quarter. UMB Bank n.a. now owns 2,744 shares of the specialty chemicals company's stock valued at $91,000 after buying an additional 651 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Axalta Coating Systems by 12.1% in the 1st quarter. Fifth Third Bancorp now owns 3,704 shares of the specialty chemicals company's stock valued at $123,000 after buying an additional 401 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Axalta Coating Systems from a "buy" rating to a "hold" rating and set a $32.00 target price for the company. in a report on Friday, July 18th. Wells Fargo & Company dropped their price target on shares of 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. BMO Capital Markets downgraded shares of Axalta Coating Systems from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $51.00 to $33.00 in a research note on Wednesday, July 16th. Royal Bank Of Canada cut their price objective on shares of Axalta Coating Systems from $37.00 to $34.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Finally, Zacks Research raised shares of Axalta Coating Systems from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.71.

Insider Transactions at Axalta Coating Systems

In other Axalta Coating Systems 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 owned 12,087 shares of the company's stock, valued at $375,422.22. The trade was a 20.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.30% of the company's stock.

Axalta Coating Systems Stock Down 2.3%

NYSE:AXTA traded down $0.68 on Tuesday, reaching $29.31. 1,235,272 shares of the stock traded hands, compared to its average volume of 2,429,020. The company's fifty day simple moving average is $30.22 and its 200 day simple moving average is $31.08. Axalta Coating Systems Ltd. has a 12 month low of $27.58 and a 12 month high of $41.65. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.76 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 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.03. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Axalta Coating Systems had a net margin of 8.58% and a return on equity of 25.32%. The business's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. Axalta Coating Systems has set its FY 2025 guidance at 2.450-2.550 EPS. Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts predict that Axalta Coating Systems Ltd. will post 2.55 EPS for the current fiscal year.

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.