Legal & General Group Plc Has $12.65 Million Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Legal & General Group Plc cut its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 369,669 shares of the specialty chemicals company's stock after selling 28,717 shares during the period. Legal & General Group Plc owned 0.17% of Axalta Coating Systems worth $12,650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in Axalta Coating Systems in the fourth quarter valued at about $87,850,000. Victory Capital Management Inc. increased its stake in shares of Axalta Coating Systems by 9.6% in the 4th quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company's stock valued at $387,439,000 after acquiring an additional 988,397 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Axalta Coating Systems by 35.4% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,620,459 shares of the specialty chemicals company's stock valued at $55,452,000 after acquiring an additional 423,883 shares during the period. Schroder Investment Management Group bought a new position in Axalta Coating Systems during the 4th quarter worth approximately $13,512,000. Finally, Boussard & Gavaudan Investment Management LLP acquired a new position in Axalta Coating Systems during the fourth quarter valued at approximately $8,301,000. Institutional investors own 98.28% of the company's stock.

Insider Activity

In related news, insider Troy D. Weaver sold 10,457 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $37.57, for a total transaction of $392,869.49. Following the transaction, the insider now directly owns 74,905 shares of the company's stock, valued at approximately $2,814,180.85. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AXTA shares. Barclays lifted their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Wolfe Research upgraded Axalta Coating Systems from a "peer perform" rating to an "outperform" rating and set a $41.00 price target for the company in a report on Friday, January 17th. Wells Fargo & Company dropped their price target on Axalta Coating Systems from $42.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. BNP Paribas raised Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 target price for the company in a research note on Thursday, April 10th. Finally, Mizuho set a $37.00 price target on shares of Axalta Coating Systems in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.36.

Axalta Coating Systems Stock Up 2.1 %

Shares of NYSE:AXTA traded up $0.66 during trading on Tuesday, hitting $31.54. 1,340,482 shares of the company were exchanged, compared to its average volume of 2,030,812. Axalta Coating Systems Ltd. has a fifty-two week low of $27.70 and a fifty-two week high of $41.66. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 17.72, a P/E/G 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. The firm has a fifty day moving average price of $33.60 and a two-hundred day moving average price of $35.92.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share. As a group, research analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

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.