Federated Hermes Inc. Cuts Stock Holdings in Axalta Coating Systems Ltd. $AXTA

Federated Hermes Inc. lowered its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 30.1% during the 3rd quarter, Holdings Channel reports. The firm owned 238,224 shares of the specialty chemicals company’s stock after selling 102,504 shares during the quarter. Federated Hermes Inc.’s holdings in Axalta Coating Systems were worth $6,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Locust Wood Capital Advisers LLC grew its position in shares of Axalta Coating Systems by 7.1% during the third quarter. Locust Wood Capital Advisers LLC now owns 3,472,354 shares of the specialty chemicals company’s stock valued at $99,379,000 after purchasing an additional 231,498 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Axalta Coating Systems by 75.8% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 124,373 shares of the specialty chemicals company’s stock worth $3,560,000 after buying an additional 53,636 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Axalta Coating Systems by 55.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 61,644 shares of the specialty chemicals company’s stock valued at $1,683,000 after buying an additional 21,993 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Axalta Coating Systems during the 3rd quarter valued at approximately $337,000. Finally, Evergreen Capital Management LLC purchased a new position in Axalta Coating Systems during the 3rd quarter valued at approximately $274,000. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Stock Down 0.1%

NYSE AXTA opened at $33.54 on Tuesday. The company has a quick ratio of 1.59, a current ratio of 2.20 and a debt-to-equity ratio of 1.45. Axalta Coating Systems Ltd. has a 52 week low of $26.28 and a 52 week high of $38.37. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.35 and a beta of 1.29. The company has a fifty day moving average of $31.98 and a two-hundred day moving average of $30.26.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AXTA. Bank of America lowered their target price on Axalta Coating Systems from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Citigroup upped their price target on shares of Axalta Coating Systems from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. lowered their price objective on shares of Axalta Coating Systems from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Vertical Research cut shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, January 7th. Finally, UBS Group cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their target price for the company from $39.00 to $35.00 in a research report on Monday, January 12th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, Axalta Coating Systems has an average rating of “Hold” and a consensus price target of $35.56.

Axalta Coating Systems Company Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.