Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,478 shares of the specialty chemicals company's stock after selling 12,222 shares during the quarter. State of Tennessee Department of Treasury's holdings in Axalta Coating Systems were worth $3,301,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AXTA. Eagle Bay Advisors LLC boosted its stake in Axalta Coating Systems by 116.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 443 shares during the period. Jones Financial Companies Lllp boosted its stake in Axalta Coating Systems by 60.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 498 shares during the period. UMB Bank n.a. boosted its stake in Axalta Coating Systems by 35.4% in the 4th quarter. UMB Bank n.a. now owns 2,093 shares of the specialty chemicals company's stock worth $72,000 after purchasing an additional 547 shares during the period. Plato Investment Management Ltd boosted its stake in Axalta Coating Systems by 156.4% in the 4th quarter. Plato Investment Management Ltd now owns 2,238 shares of the specialty chemicals company's stock worth $77,000 after purchasing an additional 1,365 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in Axalta Coating Systems by 31.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,581 shares of the specialty chemicals company's stock worth $88,000 after purchasing an additional 617 shares during the period. 98.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AXTA shares. Barclays increased their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. StockNews.com downgraded Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. BNP Paribas upgraded Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 target price for the company in a research report on Thursday, April 10th. Citigroup decreased their price target on Axalta Coating Systems from $42.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price target on Axalta Coating Systems from $42.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Axalta Coating Systems has a consensus rating of "Moderate Buy" and a consensus target price of $41.36.

Insider Buying and Selling at Axalta Coating Systems

In other news, insider Troy D. Weaver sold 10,457 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $37.57, for a total value of $392,869.49. Following the sale, the insider now owns 74,905 shares in the company, valued at $2,814,180.85. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.

Axalta Coating Systems Stock Performance

Axalta Coating Systems stock traded down $0.13 during mid-day trading on Thursday, reaching $32.37. 1,592,981 shares of the company traded hands, compared to its average volume of 2,092,892. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47. Axalta Coating Systems Ltd. has a fifty-two week low of $27.70 and a fifty-two week high of $41.65. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 0.92 and a beta of 1.33. The firm's fifty day moving average is $33.00 and its two-hundred day moving average is $35.74.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.09. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business posted $0.43 EPS. Axalta Coating Systems's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

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.