Polar Asset Management Partners Inc. Takes $3.01 Million Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Polar Asset Management Partners Inc. purchased a new stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 83,200 shares of the specialty chemicals company's stock, valued at approximately $3,011,000.

A number of other hedge funds have also recently modified their holdings of the company. Millburn Ridgefield Corp purchased a new position in Axalta Coating Systems in the third quarter worth approximately $41,000. Janus Henderson Group PLC lifted its stake in shares of Axalta Coating Systems by 28.4% in the 3rd quarter. Janus Henderson Group PLC now owns 160,458 shares of the specialty chemicals company's stock valued at $5,806,000 after purchasing an additional 35,496 shares during the last quarter. Atom Investors LP grew its holdings in shares of Axalta Coating Systems by 198.6% during the 3rd quarter. Atom Investors LP now owns 380,616 shares of the specialty chemicals company's stock worth $13,774,000 after purchasing an additional 253,142 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Axalta Coating Systems during the 3rd quarter worth about $326,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of Axalta Coating Systems by 139.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,728 shares of the specialty chemicals company's stock worth $207,000 after purchasing an additional 3,340 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Stock Down 1.5 %

AXTA stock traded down $0.60 during mid-day trading on Thursday, reaching $39.99. The company had a trading volume of 889,190 shares, compared to its average volume of 1,992,557. The firm has a fifty day simple moving average of $38.07 and a 200 day simple moving average of $36.11. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44. Axalta Coating Systems Ltd. has a fifty-two week low of $30.40 and a fifty-two week high of $41.65.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its 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. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter last year, the company earned $0.45 earnings per share. The firm's revenue was up .8% compared to the same quarter last year. Analysts forecast that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They issued an "outperform" rating and a $47.00 target price for the company. Barclays boosted their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Royal Bank of Canada raised their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, Mizuho boosted their price objective on Axalta Coating Systems from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $42.45.

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.