CIBC Asset Management Inc Grows Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

CIBC Asset Management Inc lifted its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,744 shares of the specialty chemicals company’s stock after buying an additional 334 shares during the quarter. CIBC Asset Management Inc’s holdings in Axalta Coating Systems were worth $231,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AXTA. Eagle Bay Advisors LLC boosted its holdings in Axalta Coating Systems by 116.3% in the fourth quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 443 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Axalta Coating Systems by 35.2% in the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 266 shares in the last quarter. True Wealth Design LLC bought a new stake in Axalta Coating Systems in the third quarter worth $37,000. Millburn Ridgefield Corp bought a new stake in Axalta Coating Systems in the third quarter worth $41,000. Finally, Capital Performance Advisors LLP bought a new stake in Axalta Coating Systems in the third quarter worth $54,000. 98.28% of the stock is owned by institutional investors.

Axalta Coating Systems Price Performance

Shares of Axalta Coating Systems stock opened at $36.67 on Wednesday. Axalta Coating Systems Ltd. has a one year low of $30.41 and a one year high of $41.65. The stock’s fifty day moving average is $35.82 and its 200 day moving average is $36.64. The stock has a market cap of $8.00 billion, a P/E ratio of 20.60, a P/E/G ratio of 0.92 and a beta of 1.46. 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 announced its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. Sell-side analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AXTA has been the topic of several analyst reports. Barclays boosted their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. KeyCorp restated a “sector weight” rating on shares of Axalta Coating Systems in a report on Tuesday, December 17th. Citigroup lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $41.00 in a report on Wednesday, December 18th. StockNews.com lowered shares of Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Evercore ISI began coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.08.

Insider Buying and Selling

In related news, insider Troy D. Weaver sold 10,457 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $37.57, for a total transaction of $392,869.49. Following the completion of the transaction, the insider now directly owns 74,905 shares of the company’s stock, valued at approximately $2,814,180.85. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by company 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.