Amundi Trims Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Amundi reduced its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 77.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,003 shares of the specialty chemicals company’s stock after selling 73,647 shares during the period. Amundi’s holdings in Axalta Coating Systems were worth $755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of Axalta Coating Systems by 1.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 63,326 shares of the specialty chemicals company’s stock worth $2,167,000 after buying an additional 1,037 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Axalta Coating Systems during the fourth quarter worth $4,913,000. Inceptionr LLC boosted its position in shares of Axalta Coating Systems by 9.7% during the fourth quarter. Inceptionr LLC now owns 46,883 shares of the specialty chemicals company’s stock worth $1,604,000 after buying an additional 4,135 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Axalta Coating Systems during the fourth quarter worth $7,127,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Axalta Coating Systems during the fourth quarter worth $350,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Axalta Coating Systems Stock Performance

NYSE AXTA opened at $34.44 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47. Axalta Coating Systems Ltd. has a 1 year low of $30.41 and a 1 year high of $41.66. The company has a market capitalization of $7.51 billion, a PE ratio of 19.35, a P/E/G ratio of 0.92 and a beta of 1.45. The company has a fifty day moving average of $35.99 and a two-hundred day moving average of $36.62.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. Axalta Coating Systems’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. As a group, analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

Analyst Ratings Changes

AXTA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their price objective on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Citigroup lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $45.00 to $41.00 in a research report on Wednesday, December 18th. Barclays upped their price objective on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Wolfe Research raised Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research report on Friday, January 17th. Finally, Mizuho cut their price objective on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.08.

Insider Buying and Selling at Axalta Coating Systems

In other Axalta Coating Systems news, insider Troy D. Weaver sold 10,457 shares of Axalta Coating Systems stock in a transaction on Monday, February 10th. The shares were sold at an average price of $37.57, for a total value of $392,869.49. Following the transaction, the insider now directly owns 74,905 shares in the company, valued at approximately $2,814,180.85. The trade was a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by company insiders.

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.