Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by National Bank of Canada FI

National Bank of Canada FI trimmed its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 79.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,516 shares of the specialty chemicals company's stock after selling 393,300 shares during the quarter. National Bank of Canada FI's holdings in Axalta Coating Systems were worth $3,601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC lifted its position in shares of Axalta Coating Systems by 89.7% during the 2nd quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company's stock worth $93,411,000 after buying an additional 1,292,434 shares during the last quarter. Interval Partners LP raised its stake in Axalta Coating Systems by 716.6% during the 2nd quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company's stock worth $41,857,000 after acquiring an additional 1,074,961 shares in the last quarter. PointState Capital LP purchased a new stake in Axalta Coating Systems in the third quarter valued at $30,257,000. Victory Capital Management Inc. boosted its stake in Axalta Coating Systems by 5.6% in the second quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company's stock valued at $355,479,000 after acquiring an additional 550,970 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Axalta Coating Systems by 59.7% in the second quarter. Renaissance Technologies LLC now owns 1,329,700 shares of the specialty chemicals company's stock valued at $45,436,000 after acquiring an additional 497,000 shares in the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Price Performance

Shares of AXTA traded down $0.84 during mid-day trading on Friday, hitting $38.23. The company's stock had a trading volume of 1,706,150 shares, compared to its average volume of 1,979,374. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. Axalta Coating Systems Ltd. has a 1-year low of $30.40 and a 1-year high of $41.65. The firm has a market capitalization of $8.34 billion, a P/E ratio of 26.40, a P/E/G ratio of 0.83 and a beta of 1.44. The firm has a 50-day simple moving average of $38.40 and a 200 day simple moving average of $36.26.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 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 company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $0.45 earnings per share. Axalta Coating Systems's quarterly revenue was up .8% compared to the same quarter last year. Analysts predict that Axalta Coating Systems Ltd. will post 2.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AXTA. BMO Capital Markets boosted their target price on Axalta Coating Systems from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Barclays boosted their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Royal Bank of Canada increased their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, November 1st. KeyCorp lifted their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Finally, Evercore ISI assumed coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $47.00 price objective on the stock. Two investment 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 company. Based on data from MarketBeat.com, Axalta Coating Systems has a consensus rating of "Buy" and an average target price of $42.45.

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.