Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 25.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,801 shares of the specialty chemicals company’s stock after selling 25,346 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Axalta Coating Systems were worth $2,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TFO Wealth Partners LLC grew its holdings in shares of Axalta Coating Systems by 12,022.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,082 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in Axalta Coating Systems during the 4th quarter worth $48,000. GAMMA Investing LLC increased its position in Axalta Coating Systems by 111.5% in the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 747 shares during the period. Versant Capital Management Inc acquired a new stake in Axalta Coating Systems in the second quarter worth $71,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Axalta Coating Systems in the fourth quarter valued at $88,000. Institutional investors and hedge funds own 98.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AXTA. Robert W. Baird increased their price objective on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company upgraded Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 11th. Royal Bank of Canada raised their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. KeyCorp upped their price objective on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.00.

Axalta Coating Systems Trading Up 0.8 %

NYSE:AXTA opened at $35.98 on Thursday. The stock has a fifty day simple moving average of $35.03 and a 200 day simple moving average of $34.38. The company has a quick ratio of 1.70, a current ratio of 2.26 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. Axalta Coating Systems Ltd. has a 1-year low of $25.03 and a 1-year high of $37.49.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $0.35 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts forecast that Axalta Coating Systems Ltd. will post 2.07 earnings per share for the current 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.