Twinbeech Capital LP Raises Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Twinbeech Capital LP boosted its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 91.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,682 shares of the specialty chemicals company’s stock after acquiring an additional 60,021 shares during the period. Twinbeech Capital LP owned 0.06% of Axalta Coating Systems worth $4,301,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AXTA. Norges Bank purchased a new position in Axalta Coating Systems during the fourth quarter valued at approximately $87,850,000. Fuller & Thaler Asset Management Inc. grew its stake in Axalta Coating Systems by 54.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,587,090 shares of the specialty chemicals company’s stock valued at $191,190,000 after acquiring an additional 1,980,296 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Axalta Coating Systems during the fourth quarter valued at approximately $56,215,000. Deutsche Bank AG lifted its position in Axalta Coating Systems by 144.7% during the fourth quarter. Deutsche Bank AG now owns 1,950,902 shares of the specialty chemicals company’s stock valued at $66,760,000 after purchasing an additional 1,153,620 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Axalta Coating Systems by 9.6% during the fourth quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company’s stock valued at $387,439,000 after purchasing an additional 988,397 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Trading Down 1.8%

NYSE:AXTA opened at $31.79 on Wednesday. The company has a fifty day moving average of $32.24 and a 200 day moving average of $35.36. Axalta Coating Systems Ltd. has a 52 week low of $27.70 and a 52 week high of $41.66. The company has a quick ratio of 1.47, a current ratio of 2.01 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $6.95 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.92 and a beta of 1.35.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business posted $0.48 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. On average, research analysts predict that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AXTA. Wells Fargo & Company lifted their target price on shares of Axalta Coating Systems from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Barclays dropped their target price on shares of Axalta Coating Systems from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, May 15th. The Goldman Sachs Group dropped their target price on shares of Axalta Coating Systems from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 14th. Citigroup dropped their target price on shares of Axalta Coating Systems from $42.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $32.00 in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Axalta Coating Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

Axalta Coating Systems 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.