Axalta Coating Systems Ltd. (NYSE:AXTA) Stake Trimmed by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 5.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,977,852 shares of the specialty chemicals company's stock after selling 359,185 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.74% of Axalta Coating Systems worth $216,338,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC increased its position in Axalta Coating Systems by 0.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company's stock worth $512,890,000 after purchasing an additional 137,209 shares during the last quarter. Victory Capital Management Inc. raised its stake in Axalta Coating Systems by 5.6% in the second quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company's stock worth $355,479,000 after buying an additional 550,970 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Axalta Coating Systems by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company's stock worth $128,852,000 after acquiring an additional 302,752 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Axalta Coating Systems by 19.5% during the second quarter. The Manufacturers Life Insurance Company now owns 2,914,764 shares of the specialty chemicals company's stock valued at $99,597,000 after buying an additional 475,493 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Axalta Coating Systems by 89.7% during the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company's stock worth $93,411,000 after purchasing an additional 1,292,434 shares in the last quarter. Institutional investors own 98.28% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on AXTA shares. BMO Capital Markets boosted their price target on Axalta Coating Systems from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. KeyCorp lifted their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Evercore ISI started coverage on Axalta Coating Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $47.00 price target for the company. Barclays raised their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an "overweight" rating in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Axalta Coating Systems currently has an average rating of "Buy" and an average price target of $42.45.

Axalta Coating Systems Trading Up 1.9 %

NYSE AXTA traded up $0.74 during mid-day trading on Friday, hitting $40.52. The company's stock had a trading volume of 2,196,600 shares, compared to its average volume of 2,030,658. The stock's fifty day simple moving average is $37.30 and its two-hundred day simple moving average is $35.82. Axalta Coating Systems Ltd. has a 52-week low of $30.40 and a 52-week high of $40.91. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42. The firm has a market capitalization of $8.84 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 0.85 and a beta of 1.43.

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 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.08. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. Axalta Coating Systems's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. Research analysts expect that Axalta Coating Systems Ltd. will post 2.16 EPS for the current 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.