Wellington Management Group LLP Cuts Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Wellington Management Group LLP lowered its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,296,382 shares of the specialty chemicals company’s stock after selling 361,314 shares during the period. Wellington Management Group LLP owned approximately 1.95% of Axalta Coating Systems worth $145,948,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in Axalta Coating Systems by 70.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,027,372 shares of the specialty chemicals company’s stock worth $34,900,000 after purchasing an additional 425,173 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in Axalta Coating Systems during the 4th quarter worth approximately $48,000. Cubist Systematic Strategies LLC grew its position in Axalta Coating Systems by 4,604.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 435,429 shares of the specialty chemicals company’s stock worth $14,792,000 after purchasing an additional 426,173 shares during the last quarter. Natixis Investment Managers International grew its position in Axalta Coating Systems by 33.4% during the 4th quarter. Natixis Investment Managers International now owns 21,795 shares of the specialty chemicals company’s stock worth $740,000 after purchasing an additional 5,460 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Axalta Coating Systems during the 4th quarter worth approximately $1,413,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Stock Performance

AXTA opened at $34.60 on Thursday. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.51. The firm has a fifty day moving average price of $34.35 and a 200 day moving average price of $33.41. Axalta Coating Systems Ltd. has a 1 year low of $25.03 and a 1 year high of $36.98. The stock has a market cap of $7.63 billion, a P/E ratio of 31.17, a P/E/G ratio of 0.86 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. Equities research analysts anticipate that Axalta Coating Systems Ltd. will post 1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXTA. Royal Bank of Canada boosted their target price on shares of Axalta Coating Systems from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Wells Fargo & Company raised shares of Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 11th. Mizuho upped their price objective on shares of Axalta Coating Systems from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Robert W. Baird upped their price objective on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.23.

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.