Corebridge Financial Inc. Sells 12,603 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Corebridge Financial Inc. decreased its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,742 shares of the specialty chemicals company's stock after selling 12,603 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Axalta Coating Systems worth $8,444,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Cerity Partners LLC lifted its stake in shares of Axalta Coating Systems by 168.4% during the 3rd quarter. Cerity Partners LLC now owns 29,481 shares of the specialty chemicals company's stock valued at $1,067,000 after buying an additional 18,496 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Axalta Coating Systems in the third quarter valued at about $214,000. Blueshift Asset Management LLC bought a new position in shares of Axalta Coating Systems in the third quarter worth about $602,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Axalta Coating Systems by 151.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 633,017 shares of the specialty chemicals company's stock worth $22,909,000 after purchasing an additional 381,488 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in Axalta Coating Systems by 12.9% during the 3rd quarter. Captrust Financial Advisors now owns 18,940 shares of the specialty chemicals company's stock valued at $685,000 after purchasing an additional 2,165 shares during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research firms have weighed in on AXTA. StockNews.com downgraded Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Barclays lifted their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Mizuho dropped their price objective on shares of Axalta Coating Systems from $43.00 to $41.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft decreased their target price on Axalta Coating Systems from $44.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, 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. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.08.

Axalta Coating Systems Trading Up 0.6 %

Shares of AXTA traded up $0.20 during mid-day trading on Monday, reaching $33.06. 822,505 shares of the company's stock traded hands, compared to its average volume of 1,999,940. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47. The stock's 50-day moving average is $35.84 and its two-hundred day moving average is $36.57. Axalta Coating Systems Ltd. has a 12 month low of $30.41 and a 12 month high of $41.66. The stock has a market cap of $7.21 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.92 and a beta of 1.45.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.51 by $0.09. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $0.43 EPS. Axalta Coating Systems's quarterly revenue was up 1.1% on a year-over-year basis. Research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Insider Activity at Axalta Coating Systems

In other Axalta Coating Systems news, insider Troy D. Weaver sold 10,457 shares of the firm's stock in a transaction 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 in the company, valued at $2,814,180.85. This trade represents a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.

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.