Wedge Capital Management L L P NC Purchases 30,617 Shares of Axalta Coating Systems Ltd. $AXTA

Key Points

• Wedge Capital Management L L P NC increased its stake in Axalta Coating Systems Ltd. by 29.5%, acquiring an additional 30,617 shares in the second quarter, bringing its total ownership to 134,443 shares worth approximately $3.99 million.
• Multiple institutional investors have also raised their positions in Axalta, with notable increases from JPMorgan Chase & Co. (up 3.2%), Fuller & Thaler Asset Management (up 29.8%), and others, collectively holding 98.28% of the company's stock.
• Axalta's recent earnings report showed a Q2 earnings per share of $0.64, exceeding analyst expectations while the company's revenue decreased by 3.4% year-over-year, prompting several analysts to adjust their price targets downward.

Wedge Capital Management L L P NC lifted its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 29.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 134,443 shares of the specialty chemicals company's stock after purchasing an additional 30,617 shares during the quarter. Wedge Capital Management L L P NC owned 0.06% of Axalta Coating Systems worth $3,992,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. raised its position in Axalta Coating Systems by 11,757.1% in the first quarter. Financial Management Professionals Inc. now owns 830 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 823 shares during the period. Golden State Wealth Management LLC boosted its holdings 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 purchasing an additional 488 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Axalta Coating Systems by 951.6% in the first 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 period. UMB Bank n.a. increased its position in Axalta Coating Systems by 31.1% during the first quarter. UMB Bank n.a. now owns 2,744 shares of the specialty chemicals company's stock worth $91,000 after acquiring an additional 651 shares during the period. Finally, Fifth Third Bancorp increased its stake in Axalta Coating Systems by 12.1% during the 1st quarter. Fifth Third Bancorp now owns 3,704 shares of the specialty chemicals company's stock valued at $123,000 after purchasing an additional 401 shares in the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axalta Coating Systems

In related news, SVP Amy Tufano sold 3,194 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $31.06, for a total value 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. This trade represents a 20.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BMO Capital Markets cut Axalta Coating Systems from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $51.00 to $33.00 in a report on Wednesday, July 16th. Royal Bank Of Canada decreased their price objective on Axalta Coating Systems from $37.00 to $34.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. Mizuho cut their target price on Axalta Coating Systems from $39.00 to $35.00 and set an "outperform" rating for the company in a research report on Tuesday, July 15th. Wells Fargo & Company dropped their price target on shares of Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Finally, Zacks Research upgraded 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 given a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Axalta Coating Systems currently has an average rating of "Moderate Buy" and a consensus price target of $37.71.

Axalta Coating Systems Price Performance

Shares of NYSE:AXTA traded down $0.23 on Monday, hitting $30.04. The company had a trading volume of 4,632,571 shares, compared to its average volume of 2,148,402. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 1.47. The business has a 50 day moving average of $30.22 and a 200 day moving average of $31.08. Axalta Coating Systems Ltd. has a 52-week low of $27.58 and a 52-week high of $41.65. The company has a market cap of $6.51 billion, a PE ratio of 14.73, a PEG ratio of 1.76 and a beta of 1.28.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.64 earnings per share 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 company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The company'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. As a group, equities analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Axalta Coating Systems 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.