Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,542,771 shares of the specialty chemicals company's stock after selling 7,983 shares during the period. Bank of New York Mellon Corp owned approximately 0.71% of Axalta Coating Systems worth $52,794,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Creative Planning raised its stake in shares of Axalta Coating Systems by 33.9% in the third quarter. Creative Planning now owns 11,449 shares of the specialty chemicals company's stock valued at $414,000 after acquiring an additional 2,898 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Axalta Coating Systems by 41.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,308 shares of the specialty chemicals company's stock valued at $699,000 after acquiring an additional 5,667 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Axalta Coating Systems by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 25,605 shares of the specialty chemicals company's stock valued at $926,000 after acquiring an additional 1,725 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Axalta Coating Systems by 64.4% in the third quarter. New York State Teachers Retirement System now owns 62,844 shares of the specialty chemicals company's stock valued at $2,274,000 after acquiring an additional 24,622 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Axalta Coating Systems in the third quarter valued at $855,000. 98.28% of the stock is currently owned by institutional investors and hedge funds.

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Axalta Coating Systems Stock Performance

Shares of AXTA stock traded down $0.45 during mid-day trading on Friday, hitting $34.97. 1,873,191 shares of the stock were exchanged, compared to its average volume of 1,959,043. The stock's fifty day simple moving average is $35.98 and its two-hundred day simple moving average is $36.70. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 0.92 and a beta of 1.45. Axalta Coating Systems Ltd. has a 12-month low of $30.41 and a 12-month high of $41.65. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, topping 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 business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 earnings per share. On average, analysts forecast that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

Insider Buying and Selling

In related news, insider Troy D. Weaver sold 10,457 shares of the firm's stock in a transaction dated 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 owns 74,905 shares of the company's stock, valued at $2,814,180.85. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup cut Axalta Coating Systems from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $45.00 to $41.00 in a research note on Wednesday, December 18th. Barclays increased their price objective on Axalta Coating Systems from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. KeyCorp restated a "sector weight" rating on shares of Axalta Coating Systems in a research note on Tuesday, December 17th. StockNews.com cut Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Finally, Mizuho cut their price target on Axalta Coating Systems from $43.00 to $41.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.08.

Axalta Coating Systems 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.