State Board of Administration of Florida Retirement System Cuts Stock Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

State Board of Administration of Florida Retirement System decreased its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,868 shares of the specialty chemicals company’s stock after selling 777 shares during the period. State Board of Administration of Florida Retirement System owned about 0.10% of Axalta Coating Systems worth $6,739,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Raymond James & Associates lifted its position in Axalta Coating Systems by 288.6% during the third quarter. Raymond James & Associates now owns 916,396 shares of the specialty chemicals company’s stock valued at $26,750,000 after purchasing an additional 680,566 shares during the period. Russell Investments Group Ltd. lifted its position in Axalta Coating Systems by 202.5% during the third quarter. Russell Investments Group Ltd. now owns 1,426,435 shares of the specialty chemicals company’s stock valued at $42,445,000 after purchasing an additional 954,830 shares during the period. Marshall Wace LLP bought a new position in Axalta Coating Systems during the second quarter valued at approximately $1,264,000. Lord Abbett & CO. LLC lifted its position in Axalta Coating Systems by 9.9% during the second quarter. Lord Abbett & CO. LLC now owns 2,051,506 shares of the specialty chemicals company’s stock valued at $62,550,000 after purchasing an additional 184,806 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in Axalta Coating Systems during the second quarter valued at approximately $45,118,000. Institutional investors own 97.30% of the company’s stock.

Several research analysts have weighed in on AXTA shares. TheStreet upgraded shares of Axalta Coating Systems from a “c+” rating to a “b” rating in a research report on Wednesday, October 13th. Mizuho started coverage on shares of Axalta Coating Systems in a research report on Tuesday, October 12th. They issued a “buy” rating and a $40.00 price target on the stock. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada decreased their price target on shares of Axalta Coating Systems from $38.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $36.60.

In related news, SVP Troy D. Weaver sold 24,000 shares of the firm’s stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $31.46, for a total transaction of $755,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Shares of AXTA stock opened at $32.74 on Friday. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 0.84 and a beta of 1.41. Axalta Coating Systems Ltd. has a one year low of $26.42 and a one year high of $34.20. The company’s fifty day moving average price is $32.30 and its 200-day moving average price is $30.95. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.97 and a quick ratio of 1.44.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Sunday, October 24th. The specialty chemicals company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.05. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. Axalta Coating Systems had a net margin of 6.44% and a return on equity of 30.83%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. Equities research analysts expect that Axalta Coating Systems Ltd. will post 1.76 earnings per share for the current fiscal year.

Axalta Coating Systems Profile

Axalta Coating Systems Ltd. engages in the manufacture, marketing, and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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