New York State Common Retirement Fund lowered its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 187,474 shares of the specialty chemicals company's stock after selling 33,036 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of Axalta Coating Systems worth $6,368,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Axalta Coating Systems by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 22,886,402 shares of the specialty chemicals company's stock worth $615,644,000 after acquiring an additional 949,673 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Axalta Coating Systems by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company's stock valued at $362,366,000 after buying an additional 1,415,723 shares during the last quarter. Wellington Management Group LLP lifted its position in Axalta Coating Systems by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company's stock worth $125,292,000 after buying an additional 382,949 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Axalta Coating Systems by 2.0% during the 3rd quarter. Pzena Investment Management LLC now owns 3,825,560 shares of the specialty chemicals company's stock worth $102,908,000 after buying an additional 73,604 shares during the last quarter. Finally, Hawk Ridge Capital Management LP grew its holdings in shares of Axalta Coating Systems by 49.3% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 2,952,198 shares of the specialty chemicals company's stock valued at $79,414,000 after acquiring an additional 974,973 shares in the last quarter. Institutional investors own 98.28% of the company's stock.
Axalta Coating Systems Price Performance
Shares of NYSE AXTA traded up $0.37 during mid-day trading on Friday, reaching $35.20. The company had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. Axalta Coating Systems Ltd. has a one year low of $25.03 and a one year high of $35.31. The business's 50-day simple moving average is $32.84 and its 200 day simple moving average is $31.88. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.46 and a current ratio of 2.07. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.08 and a beta of 1.51.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business posted $0.35 EPS. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts predict that Axalta Coating Systems Ltd. will post 1.98 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on AXTA. Robert W. Baird increased their price target on Axalta Coating Systems from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday. Royal Bank of Canada raised their target price on shares of Axalta Coating Systems from $39.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday. KeyCorp upped their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday. Wolfe Research initiated coverage on shares of Axalta Coating Systems in a research report on Friday, March 1st. They issued a "peer perform" rating for the company. Finally, Barclays boosted their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.00.
Get Our Latest Stock Analysis on AXTA
Axalta Coating Systems Company Profile
(
Free Report)
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.
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