Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,028 shares of the specialty chemicals company’s stock after selling 4,416 shares during the period. Amalgamated Bank’s holdings in Axalta Coating Systems were worth $3,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Axalta Coating Systems in the 1st quarter valued at about $572,000. Golden State Wealth Management LLC grew its stake in shares of Axalta Coating Systems by 105.9% in the 1st quarter. Golden State Wealth Management LLC now owns 949 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 488 shares during the last quarter. Shelton Wealth Management LLC grew its stake in shares of Axalta Coating Systems by 288.1% in the 1st quarter. Shelton Wealth Management LLC now owns 25,848 shares of the specialty chemicals company’s stock valued at $857,000 after purchasing an additional 19,188 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Axalta Coating Systems by 57.6% in the 1st quarter. Blue Trust Inc. now owns 6,796 shares of the specialty chemicals company’s stock valued at $225,000 after purchasing an additional 2,483 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Axalta Coating Systems by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 25,540 shares of the specialty chemicals company’s stock valued at $847,000 after purchasing an additional 675 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Stock Down 1.2%

Shares of NYSE:AXTA opened at $30.87 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.12 and a debt-to-equity ratio of 1.60. Axalta Coating Systems Ltd. has a 52-week low of $27.70 and a 52-week high of $41.66. The stock’s fifty day simple moving average is $31.04 and its 200-day simple moving average is $33.27. The company has a market capitalization of $6.75 billion, a P/E ratio of 15.06, a P/E/G ratio of 0.87 and a beta of 1.25.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. Axalta Coating Systems had a return on equity of 26.30% and a net margin of 8.56%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the business earned $0.48 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AXTA shares. The Goldman Sachs Group decreased their price target on Axalta Coating Systems from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. Citigroup restated a “neutral” rating and issued a $34.00 price target (down from $35.00) on shares of Axalta Coating Systems in a research note on Friday, June 13th. Barclays decreased their price target on Axalta Coating Systems from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Mizuho set a $37.00 price target on Axalta Coating Systems in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. downgraded Axalta Coating Systems from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $42.00 to $32.00 in a research note on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.44.

About Axalta Coating Systems

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.