JPMorgan Chase & Co. Lowers Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

JPMorgan Chase & Co. cut its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 8.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,230,362 shares of the specialty chemicals company's stock after selling 1,061,787 shares during the quarter. JPMorgan Chase & Co. owned about 5.15% of Axalta Coating Systems worth $406,427,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AXTA. First Horizon Advisors Inc. raised its holdings in 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 worth $37,000 after acquiring an additional 266 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Axalta Coating Systems by 14.1% in the 3rd quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company's stock worth $130,000 after purchasing an additional 444 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Axalta Coating Systems by 30.2% in the third quarter. Venturi Wealth Management LLC now owns 1,964 shares of the specialty chemicals company's stock worth $71,000 after purchasing an additional 455 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Axalta Coating Systems by 4.4% in the third quarter. Verdence Capital Advisors LLC now owns 11,162 shares of the specialty chemicals company's stock worth $404,000 after purchasing an additional 473 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Axalta Coating Systems by 13.9% during the third quarter. KBC Group NV now owns 5,859 shares of the specialty chemicals company's stock valued at $212,000 after purchasing an additional 716 shares in the last quarter. Hedge funds and other institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Stock Performance

Shares of AXTA stock traded down $0.26 during trading hours on Friday, reaching $34.37. 1,257,617 shares of the company traded hands, compared to its average volume of 2,002,321. The firm has a 50-day moving average price of $38.15 and a 200 day moving average price of $36.24. The company has a market cap of $7.49 billion, a P/E ratio of 23.22, a P/E/G ratio of 0.83 and a beta of 1.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42. Axalta Coating Systems Ltd. has a 12-month low of $30.40 and a 12-month high of $41.65.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, sell-side analysts predict that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AXTA shares. Evercore ISI began coverage on Axalta Coating Systems in a report on Wednesday, November 13th. They issued an "outperform" rating and a $47.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Axalta Coating Systems from $44.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada increased their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. BMO Capital Markets raised their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, Barclays boosted their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Axalta Coating Systems presently has an average rating of "Moderate Buy" and a consensus price target of $42.50.

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.