Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,017 shares of the specialty chemicals company’s stock after selling 1,202 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Axalta Coating Systems were worth $435,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its stake in shares of Axalta Coating Systems by 0.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 110,555 shares of the specialty chemicals company’s stock worth $3,778,000 after buying an additional 453 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Axalta Coating Systems by 9.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,450 shares of the specialty chemicals company’s stock worth $222,000 after buying an additional 530 shares in the last quarter. Signaturefd LLC raised its stake in shares of Axalta Coating Systems by 23.2% during the 2nd quarter. Signaturefd LLC now owns 3,155 shares of the specialty chemicals company’s stock worth $108,000 after buying an additional 594 shares in the last quarter. UMB Bank n.a. increased its stake in Axalta Coating Systems by 90.2% in the 3rd quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock valued at $56,000 after purchasing an additional 733 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Axalta Coating Systems by 111.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 747 shares in the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Price Performance

NYSE AXTA opened at $37.98 on Friday. The stock has a market capitalization of $8.33 billion, a P/E ratio of 25.66, a P/E/G ratio of 0.97 and a beta of 1.44. Axalta Coating Systems Ltd. has a 1 year low of $28.69 and a 1 year high of $38.77. The business’s fifty day moving average is $35.97 and its two-hundred day moving average is $35.08. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.70 and a current ratio of 2.00.

Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.45 EPS. The company’s revenue was up .8% on a year-over-year basis. On average, research analysts forecast that Axalta Coating Systems Ltd. will post 2.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXTA has been the topic of several analyst reports. UBS Group decreased their price objective on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Royal Bank of Canada boosted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday. Robert W. Baird boosted their price objective on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Barclays boosted their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.70.

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.