KLP Kapitalforvaltning AS Makes New $1.52 Million Investment in Axalta Coating Systems Ltd. (NYSE:AXTA)

KLP Kapitalforvaltning AS bought a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 44,400 shares of the specialty chemicals company's stock, valued at approximately $1,519,000.

Other institutional investors have also modified their holdings of the company. Cerity Partners LLC increased its position in Axalta Coating Systems by 168.4% in the 3rd quarter. Cerity Partners LLC now owns 29,481 shares of the specialty chemicals company's stock valued at $1,067,000 after acquiring an additional 18,496 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of Axalta Coating Systems in the 3rd quarter valued at approximately $214,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Axalta Coating Systems by 151.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 633,017 shares of the specialty chemicals company's stock valued at $22,909,000 after purchasing an additional 381,488 shares during the period. Captrust Financial Advisors raised its stake in shares of Axalta Coating Systems by 12.9% during the third quarter. Captrust Financial Advisors now owns 18,940 shares of the specialty chemicals company's stock worth $685,000 after purchasing an additional 2,165 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of Axalta Coating Systems by 55.6% during the third quarter. Verition Fund Management LLC now owns 621,376 shares of the specialty chemicals company's stock worth $22,488,000 after purchasing an additional 221,943 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Axalta Coating Systems Price Performance

AXTA traded up $0.12 during trading on Wednesday, reaching $33.50. 185,886 shares of the stock were exchanged, compared to its average volume of 1,993,730. 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 $7.31 billion, a price-to-earnings ratio of 18.79, a P/E/G ratio of 0.92 and a beta of 1.45. The business's 50 day moving average price is $35.71 and its two-hundred day moving average price is $36.56. 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 (NYSE:AXTA - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.51 by $0.09. The business 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%. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. As a group, equities research analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AXTA shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Axalta Coating Systems from $44.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. KeyCorp reissued a "sector weight" rating on shares of Axalta Coating Systems in a report on Tuesday, December 17th. Mizuho reduced their price objective on shares of Axalta Coating Systems from $43.00 to $41.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Wolfe Research upgraded Axalta Coating Systems from a "peer perform" rating to an "outperform" rating and set a $41.00 target price on the stock in a research report on Friday, January 17th. Finally, StockNews.com cut Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Axalta Coating Systems currently has an average rating of "Moderate Buy" and an average price target of $43.08.

Insider Transactions at Axalta Coating Systems

In other news, insider Troy D. Weaver sold 10,457 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the sale, the insider now directly owns 74,905 shares in the company, valued at $2,814,180.85. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.40% of the company's stock.

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.