Mackenzie Financial Corp Acquires 34,217 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Mackenzie Financial Corp boosted its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 206,717 shares of the specialty chemicals company's stock after buying an additional 34,217 shares during the quarter. Mackenzie Financial Corp owned 0.09% of Axalta Coating Systems worth $7,022,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AXTA. BlackRock Inc. increased its position in shares of Axalta Coating Systems by 65.4% during the 1st quarter. BlackRock Inc. now owns 25,806,208 shares of the specialty chemicals company's stock valued at $781,670,000 after purchasing an additional 10,208,408 shares during the last quarter. Millennium Management LLC increased its position in shares of Axalta Coating Systems by 5,915.6% during the 4th quarter. Millennium Management LLC now owns 5,193,950 shares of the specialty chemicals company's stock valued at $132,290,000 after purchasing an additional 5,107,608 shares during the last quarter. State Street Corp grew its stake in shares of Axalta Coating Systems by 68.2% during the 1st quarter. State Street Corp now owns 6,639,964 shares of the specialty chemicals company's stock valued at $201,124,000 after acquiring an additional 2,692,774 shares during the period. Norges Bank bought a new position in shares of Axalta Coating Systems during the 4th quarter valued at approximately $53,517,000. Finally, Kinetic Partners Management LP bought a new position in shares of Axalta Coating Systems during the 3rd quarter valued at approximately $40,603,000. Hedge funds and other institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Trading Down 3.0 %

NYSE:AXTA traded down $0.94 during midday trading on Friday, hitting $30.87. 4,964,107 shares of the company traded hands, compared to its average volume of 1,629,771. The firm's fifty day moving average is $32.67 and its 200-day moving average is $31.58. Axalta Coating Systems Ltd. has a 12-month low of $25.03 and a 12-month high of $34.53. The firm has a market capitalization of $6.80 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.00 and a beta of 1.51. The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 1.96.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The specialty chemicals company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). The firm had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.29 billion. Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The business's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. On average, sell-side analysts predict that Axalta Coating Systems Ltd. will post 1.88 EPS for the current year.

Analyst Upgrades and Downgrades

AXTA has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Axalta Coating Systems from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Friday, February 9th. Wolfe Research assumed coverage on Axalta Coating Systems in a research note on Friday, March 1st. They set a "peer perform" rating for the company. Wells Fargo & Company upped their price target on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 9th. Citigroup upped their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Finally, UBS Group downgraded Axalta Coating Systems from a "buy" rating to a "neutral" rating and upped their price target for the stock from $35.00 to $36.00 in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $35.70.

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.