Goldman Sachs Group Inc. Acquires 425,173 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Goldman Sachs Group Inc. lifted its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 70.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,027,372 shares of the specialty chemicals company’s stock after purchasing an additional 425,173 shares during the period. Goldman Sachs Group Inc. owned 0.47% of Axalta Coating Systems worth $34,900,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bank of Nova Scotia bought a new stake in shares of Axalta Coating Systems during the fourth quarter worth $1,736,000. Wellington Management Group LLP lifted its stake in shares of Axalta Coating Systems by 9.0% during the third quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock valued at $125,292,000 after acquiring an additional 382,949 shares during the period. Hawk Ridge Capital Management LP lifted its stake in shares of Axalta Coating Systems by 49.3% during the third 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 during the period. Assetmark Inc. lifted its stake in shares of Axalta Coating Systems by 13.0% during the fourth quarter. Assetmark Inc. now owns 251,081 shares of the specialty chemicals company’s stock valued at $8,529,000 after acquiring an additional 28,836 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Axalta Coating Systems during the fourth quarter valued at $9,385,000. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Price Performance

NYSE AXTA opened at $34.62 on Friday. The business has a 50 day simple moving average of $34.44 and a 200 day simple moving average of $33.44. Axalta Coating Systems Ltd. has a 52-week low of $25.03 and a 52-week high of $36.98. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.51 and a current ratio of 2.07. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 0.86 and a beta of 1.51.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on AXTA shares. Wells Fargo & Company raised Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 11th. Mizuho upped their price target on Axalta Coating Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Wolfe Research started coverage on Axalta Coating Systems in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. BMO Capital Markets upped their price target on Axalta Coating Systems from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada raised their target price on Axalta Coating Systems from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Axalta Coating Systems has an average rating of “Moderate Buy” and a consensus price target of $38.23.

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.