Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 30.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 507,707 shares of the specialty chemicals company's stock after selling 226,874 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Axalta Coating Systems worth $18,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXTA. Plato Investment Management Ltd bought a new stake in Axalta Coating Systems in the second quarter valued at about $30,000. First Horizon Advisors Inc. increased its holdings in shares of 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 valued at $37,000 after acquiring an additional 266 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Axalta Coating Systems during the 3rd quarter valued at approximately $37,000. Millburn Ridgefield Corp bought a new position in Axalta Coating Systems during the third quarter worth $41,000. Finally, Capital Performance Advisors LLP bought a new position in Axalta Coating Systems during the third quarter worth $54,000. Institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Stock Performance

Shares of NYSE:AXTA traded down $0.26 on Friday, hitting $34.37. The company's stock had a trading volume of 1,257,617 shares, compared to its average volume of 2,002,321. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. Axalta Coating Systems Ltd. has a 12 month low of $30.40 and a 12 month high of $41.65. The stock's 50-day moving average is $38.15 and its two-hundred day moving average is $36.24.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its earnings results 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. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. Axalta Coating Systems's revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

AXTA has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Mizuho increased their price objective on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Evercore ISI began coverage on Axalta Coating Systems in a research note on Wednesday, November 13th. They issued an "outperform" rating and a $47.00 target price for the company. Citigroup lowered Axalta Coating Systems from a "buy" rating to a "neutral" rating and lowered their target price for the company from $45.00 to $41.00 in a report on Wednesday, December 18th. Finally, BMO Capital Markets raised their price target on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $42.50.

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.