Rhumbline Advisers Purchases 13,483 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Rhumbline Advisers increased its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 579,424 shares of the specialty chemicals company’s stock after purchasing an additional 13,483 shares during the quarter. Rhumbline Advisers owned approximately 0.27% of Axalta Coating Systems worth $19,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AXTA. Eagle Bay Advisors LLC grew 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 valued at $28,000 after buying an additional 443 shares during the last quarter. True Wealth Design LLC acquired a new position in Axalta Coating Systems in the 3rd quarter valued at about $37,000. First Horizon Advisors Inc. grew its stake in Axalta Coating Systems by 35.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 266 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in Axalta Coating Systems in the 3rd quarter valued at about $41,000. Finally, Capital Performance Advisors LLP acquired a new position in Axalta Coating Systems in the 3rd quarter valued at about $54,000. 98.28% of the stock is owned by institutional investors.

Axalta Coating Systems Price Performance

AXTA stock opened at $37.11 on Friday. The company has a fifty day moving average price of $35.93 and a 200-day moving average price of $36.55. The company has a market capitalization of $8.09 billion, a P/E ratio of 20.85, a PEG ratio of 0.95 and a beta of 1.46. Axalta Coating Systems Ltd. has a 52-week low of $30.41 and a 52-week high of $41.65. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.09. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. As a group, equities analysts expect that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on AXTA shares. Wolfe Research upgraded shares of Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Friday, January 17th. BMO Capital Markets upped their price target on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com lowered shares of Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Axalta Coating Systems has a consensus rating of “Moderate Buy” and a consensus price target of $43.08.

Insider Transactions 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 transaction of $392,869.49. Following the completion of the sale, the insider now directly 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 filing with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

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.