Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 46.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 896,259 shares of the specialty chemicals company’s stock after selling 781,543 shares during the quarter. Ameriprise Financial Inc.’s holdings in Axalta Coating Systems were worth $30,670,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AXTA. Eagle Bay Advisors LLC raised its holdings in Axalta Coating Systems by 116.3% in the fourth quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 443 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Axalta Coating Systems by 60.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 498 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Axalta Coating Systems by 35.4% in the 4th quarter. UMB Bank n.a. now owns 2,093 shares of the specialty chemicals company’s stock valued at $72,000 after purchasing an additional 547 shares in the last quarter. Plato Investment Management Ltd raised its holdings in shares of Axalta Coating Systems by 156.4% in the 4th quarter. Plato Investment Management Ltd now owns 2,238 shares of the specialty chemicals company’s stock valued at $77,000 after purchasing an additional 1,365 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Axalta Coating Systems by 31.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,581 shares of the specialty chemicals company’s stock worth $88,000 after purchasing an additional 617 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Trading Up 1.0%

AXTA opened at $33.04 on Wednesday. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 0.92 and a beta of 1.35. Axalta Coating Systems Ltd. has a 52 week low of $27.70 and a 52 week high of $41.66. The business’s 50 day moving average is $32.40 and its two-hundred day moving average is $35.52. The company has a quick ratio of 1.47, a current ratio of 2.01 and a debt-to-equity ratio of 1.74.

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

Analyst Ratings Changes

Several research firms recently commented on AXTA. Wolfe Research raised Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. downgraded Axalta Coating Systems from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $32.00 in a report on Thursday, May 8th. Mizuho set a $37.00 price objective on Axalta Coating Systems in a report on Tuesday, April 15th. BNP Paribas raised Axalta Coating Systems from a “neutral” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Thursday, April 10th. Finally, Wells Fargo & Company boosted their target price on Axalta Coating Systems from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.60.

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.