Two Sigma Advisers LP Cuts Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Two Sigma Advisers LP lowered its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 793,900 shares of the specialty chemicals company's stock after selling 130,200 shares during the period. Two Sigma Advisers LP owned approximately 0.36% of Axalta Coating Systems worth $28,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AXTA. Plato Investment Management Ltd purchased a new position in Axalta Coating Systems in the 2nd quarter worth approximately $30,000. First Horizon Advisors Inc. increased its stake in Axalta Coating Systems by 35.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company's stock worth $37,000 after purchasing an additional 266 shares during the period. True Wealth Design LLC purchased a new position in Axalta Coating Systems in the 3rd quarter worth approximately $37,000. Millburn Ridgefield Corp purchased a new position in Axalta Coating Systems in the 3rd quarter worth approximately $41,000. Finally, GAMMA Investing LLC increased its stake in Axalta Coating Systems by 111.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company's stock worth $48,000 after purchasing an additional 747 shares during the period. Hedge funds and other institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Price Performance

Axalta Coating Systems stock traded down $0.08 during midday trading on Friday, reaching $39.92. 1,147,218 shares of the stock traded hands, compared to its average volume of 1,446,478. The stock's fifty day moving average is $38.13 and its 200-day moving average is $36.15. Axalta Coating Systems Ltd. has a 12 month low of $30.40 and a 12 month high of $41.65. The stock has a market cap of $8.70 billion, a P/E ratio of 26.97, a PEG ratio of 0.87 and a beta of 1.44. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The company's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AXTA shares. Royal Bank of Canada lifted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. KeyCorp lifted their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Barclays lifted their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Mizuho lifted their price target on Axalta Coating Systems from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Finally, Evercore ISI started coverage on Axalta Coating Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $47.00 price target on the stock. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $42.45.

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.