Wellington Management Group LLP Acquires 82,200 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Wellington Management Group LLP boosted its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,598,172 shares of the specialty chemicals company's stock after purchasing an additional 82,200 shares during the quarter. Wellington Management Group LLP owned about 3.02% of Axalta Coating Systems worth $225,789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Axalta Coating Systems during the 4th quarter worth $87,850,000. Victory Capital Management Inc. lifted its position in Axalta Coating Systems by 9.6% during the 4th quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company's stock worth $387,439,000 after acquiring an additional 988,397 shares during the last quarter. PointState Capital LP bought a new stake in Axalta Coating Systems during the third quarter valued at about $30,257,000. Jupiter Asset Management Ltd. grew its position in shares of Axalta Coating Systems by 35.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,620,459 shares of the specialty chemicals company's stock valued at $55,452,000 after purchasing an additional 423,883 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of Axalta Coating Systems in the fourth quarter valued at about $13,512,000. Institutional investors and hedge funds own 98.28% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup downgraded Axalta Coating Systems from a "buy" rating to a "neutral" rating and decreased their target price for the company from $45.00 to $41.00 in a research note on Wednesday, December 18th. Wells Fargo & Company reduced their price objective on Axalta Coating Systems from $45.00 to $42.00 and set an "equal weight" rating for the company in a research report on Thursday. StockNews.com downgraded shares of Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Mizuho cut their target price on shares of Axalta Coating Systems from $43.00 to $41.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Finally, KeyCorp reissued a "sector weight" rating on shares of Axalta Coating Systems in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given 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 $43.00.

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Axalta Coating Systems Price Performance

NYSE AXTA traded down $0.18 on Monday, reaching $29.55. The company's stock had a trading volume of 4,857,068 shares, compared to its average volume of 2,009,600. The firm has a market cap of $6.45 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 0.92 and a beta of 1.33. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74. Axalta Coating Systems Ltd. has a 52 week low of $28.34 and a 52 week high of $41.66. The business has a 50-day moving average price of $35.26 and a 200 day moving average price of $36.42.

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 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 26.29% and a net margin of 7.41%. The company's revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. Sell-side analysts expect that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

Insiders Place Their Bets

In other Axalta Coating Systems news, insider Troy D. Weaver sold 10,457 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $37.57, for a total transaction of $392,869.49. Following the sale, the insider now directly owns 74,905 shares of the company's stock, valued at approximately $2,814,180.85. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company's stock.

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.