KLP Kapitalforvaltning AS Reduces Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

KLP Kapitalforvaltning AS cut its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,700 shares of the specialty chemicals company’s stock after selling 1,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Axalta Coating Systems were worth $1,416,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Financial Management Professionals Inc. lifted its holdings in shares of Axalta Coating Systems by 11,757.1% in the 1st quarter. Financial Management Professionals Inc. now owns 830 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 823 shares during the last quarter. Golden State Wealth Management LLC increased its position in Axalta Coating Systems by 105.9% during the first quarter. Golden State Wealth Management LLC now owns 949 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 488 shares during the period. UMB Bank n.a. lifted its stake in Axalta Coating Systems by 31.1% in the first quarter. UMB Bank n.a. now owns 2,744 shares of the specialty chemicals company’s stock valued at $91,000 after buying an additional 651 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Axalta Coating Systems by 54.7% in the fourth quarter. Headlands Technologies LLC now owns 3,270 shares of the specialty chemicals company’s stock valued at $112,000 after acquiring an additional 1,156 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Axalta Coating Systems by 12.1% in the first quarter. Fifth Third Bancorp now owns 3,704 shares of the specialty chemicals company’s stock valued at $123,000 after acquiring an additional 401 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Stock Up 0.1%

Axalta Coating Systems stock opened at $29.53 on Monday. The stock’s 50 day moving average price is $30.37 and its 200 day moving average price is $32.82. Axalta Coating Systems Ltd. has a 1-year low of $27.70 and a 1-year high of $41.65. The company has a market cap of $6.45 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.12 and a quick ratio of 1.53.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.54 by $0.05. Axalta Coating Systems had a net margin of 8.56% and a return on equity of 26.30%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the firm earned $0.48 EPS. The business’s revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts predict that Axalta Coating Systems Ltd. will post 2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on AXTA shares. Mizuho reduced their price target on shares of Axalta Coating Systems from $39.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, July 15th. Barclays reduced 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 report on Thursday, May 15th. BMO Capital Markets lowered Axalta Coating Systems from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $51.00 to $33.00 in a report on Wednesday, July 16th. Citigroup reaffirmed a “neutral” rating and set a $34.00 price objective (down from $35.00) on shares of Axalta Coating Systems in a research note on Friday, June 13th. Finally, Wall Street Zen cut Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

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.