Treasurer of the State of North Carolina Sells 530 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Treasurer of the State of North Carolina trimmed its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,707 shares of the specialty chemicals company’s stock after selling 530 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Axalta Coating Systems were worth $3,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Victory Capital Management Inc. increased its stake in shares of 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 in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Axalta Coating Systems by 0.4% in the 4th quarter. JPMorgan Chase & Co. now owns 11,280,882 shares of the specialty chemicals company’s stock worth $386,032,000 after buying an additional 50,520 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Axalta Coating Systems by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 6,598,172 shares of the specialty chemicals company’s stock worth $225,789,000 after buying an additional 82,200 shares during the last quarter. Norges Bank bought a new position in Axalta Coating Systems during the 4th quarter valued at approximately $87,850,000. Finally, Jupiter Asset Management Ltd. raised its stake in Axalta Coating Systems by 35.4% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,620,459 shares of the specialty chemicals company’s stock valued at $55,452,000 after buying an additional 423,883 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Troy D. Weaver sold 10,457 shares of the firm’s 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 transaction, the insider now directly owns 74,905 shares of the company’s stock, valued at approximately $2,814,180.85. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AXTA. Wolfe Research upgraded Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price target for the company in a report on Friday, January 17th. StockNews.com lowered shares of Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company dropped their target price on shares of Axalta Coating Systems from $42.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Mizuho set a $37.00 price target on shares of Axalta Coating Systems in a research report on Tuesday. Finally, BNP Paribas upgraded shares of Axalta Coating Systems from a “neutral” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.36.

Axalta Coating Systems Trading Down 0.2 %

Shares of AXTA stock opened at $31.15 on Thursday. The stock has a fifty day simple moving average of $34.09 and a two-hundred day simple moving average of $36.05. Axalta Coating Systems Ltd. has a 52-week low of $27.70 and a 52-week high of $41.66. The firm has a market capitalization of $6.80 billion, a PE ratio of 17.50, a PEG ratio of 0.92 and a beta of 1.33. 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 earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.09. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business posted $0.43 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. On average, analysts predict that Axalta Coating Systems Ltd. will post 2.55 EPS for the current fiscal year.

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.