Jupiter Asset Management Ltd. Grows Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Jupiter Asset Management Ltd. lifted its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 35.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,620,459 shares of the specialty chemicals company's stock after purchasing an additional 423,883 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.74% of Axalta Coating Systems worth $55,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AXTA. Janney Montgomery Scott LLC purchased a new position in shares of Axalta Coating Systems during the 3rd quarter worth $855,000. Verdence Capital Advisors LLC grew its holdings in shares of Axalta Coating Systems by 4.4% during the 3rd 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 period. Atria Investments Inc grew its holdings in shares of Axalta Coating Systems by 19.8% during the 3rd quarter. Atria Investments Inc now owns 27,527 shares of the specialty chemicals company's stock worth $996,000 after purchasing an additional 4,542 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Axalta Coating Systems by 30.2% during the 3rd 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 period. Finally, Aigen Investment Management LP purchased a new position in shares of Axalta Coating Systems during the 3rd quarter worth $724,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, insider Troy D. Weaver sold 10,457 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the transaction, the insider now owns 74,905 shares in the company, valued at approximately $2,814,180.85. This represents a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wolfe Research raised Axalta Coating Systems from a "peer perform" rating to an "outperform" rating and set a $41.00 target price on the stock in a research note on Friday, January 17th. Mizuho decreased their target price 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. Barclays increased their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Citigroup lowered Axalta Coating Systems from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $45.00 to $41.00 in a research note on Wednesday, December 18th. Finally, StockNews.com lowered Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Axalta Coating Systems presently has an average rating of "Moderate Buy" and a consensus price target of $43.08.

Axalta Coating Systems Stock Up 3.0 %

AXTA stock traded up $1.00 during mid-day trading on Friday, reaching $34.44. The company had a trading volume of 2,889,825 shares, compared to its average volume of 2,000,111. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 0.92 and a beta of 1.45. The firm has a fifty day simple moving average of $35.97 and a 200 day simple moving average of $36.65. Axalta Coating Systems Ltd. has a fifty-two week low of $30.41 and a fifty-two week high of $41.65.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, beating analysts' consensus estimates 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 business 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 business posted $0.43 EPS. The business's revenue for the quarter was up 1.1% on a year-over-year basis. Analysts forecast 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.