Prospector Partners LLC Lowers Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Prospector Partners LLC trimmed its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 62.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,800 shares of the specialty chemicals company's stock after selling 204,525 shares during the quarter. Prospector Partners LLC owned approximately 0.06% of Axalta Coating Systems worth $4,264,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AXTA. Norges Bank purchased a new position in shares of Axalta Coating Systems in the 4th quarter valued at $82,878,000. Locust Wood Capital Advisers LLC grew its stake in Axalta Coating Systems by 63.8% in the first quarter. Locust Wood Capital Advisers LLC now owns 3,198,290 shares of the specialty chemicals company's stock valued at $109,989,000 after purchasing an additional 1,245,223 shares during the last quarter. Vanguard Group Inc. raised its holdings in Axalta Coating Systems by 2.4% in the first quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company's stock worth $817,230,000 after purchasing an additional 554,806 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Axalta Coating Systems by 5.6% during the second quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company's stock valued at $355,479,000 after buying an additional 550,970 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Axalta Coating Systems by 1,424.5% in the 1st quarter. Westwood Holdings Group Inc. now owns 545,089 shares of the specialty chemicals company's stock valued at $18,746,000 after buying an additional 509,333 shares in the last quarter. Institutional investors own 98.28% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on AXTA shares. KeyCorp boosted their price objective on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Wells Fargo & Company raised Axalta Coating Systems from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 11th. Barclays upped their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Robert W. Baird increased their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $41.00.

Axalta Coating Systems Stock Performance

Shares of NYSE:AXTA traded down $1.05 during midday trading on Friday, reaching $36.07. The company's stock had a trading volume of 3,523,373 shares, compared to its average volume of 2,021,367. The company has a quick ratio of 1.70, a current ratio of 2.26 and a debt-to-equity ratio of 1.97. The stock has a fifty day moving average of $35.07 and a 200 day moving average of $34.43. Axalta Coating Systems Ltd. has a twelve month low of $25.03 and a twelve month high of $37.49. The firm has a market capitalization of $7.96 billion, a PE ratio of 32.50, a P/E/G ratio of 0.81 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.06. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. The company's revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. On average, equities analysts expect that Axalta Coating Systems Ltd. will post 2.07 EPS for the current fiscal year.

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.