Renaissance Technologies LLC decreased its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,004,300 shares of the specialty chemicals company's stock after selling 66,000 shares during the quarter. Renaissance Technologies LLC owned about 0.46% of Axalta Coating Systems worth $34,367,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Axalta Coating Systems in the 4th quarter valued at about $87,850,000. Victory Capital Management Inc. raised its position in Axalta Coating Systems by 9.6% in the fourth quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company's stock valued at $387,439,000 after purchasing an additional 988,397 shares during the period. FIL Ltd boosted its holdings in Axalta Coating Systems by 58.9% during the 4th quarter. FIL Ltd now owns 1,480,871 shares of the specialty chemicals company's stock valued at $50,675,000 after acquiring an additional 548,752 shares during the period. Jupiter Asset Management Ltd. increased its stake in Axalta Coating Systems by 35.4% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,620,459 shares of the specialty chemicals company's stock worth $55,452,000 after purchasing an additional 423,883 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in shares of Axalta Coating Systems during the fourth quarter worth about $13,512,000. Hedge funds and other institutional investors own 98.28% of the company's stock.
Axalta Coating Systems Stock Performance
Shares of AXTA stock traded up $0.40 during midday trading on Thursday, hitting $31.52. The company had a trading volume of 501,090 shares, compared to its average volume of 2,043,746. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.92 and a beta of 1.33. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47. The company's 50 day simple moving average is $34.09 and its 200 day simple moving average is $36.05. Axalta Coating Systems Ltd. has a 52-week low of $27.70 and a 52-week high of $41.66.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.51 by $0.09. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.31 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The business's revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $0.43 EPS. Research analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. Wolfe Research raised shares of Axalta Coating Systems from a "peer perform" rating to an "outperform" rating and set a $41.00 target price on the stock in a report on Friday, January 17th. BNP Paribas raised shares of Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price objective for the company in a research report on Thursday, April 10th. StockNews.com lowered Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Citigroup decreased their price target on Axalta Coating Systems from $42.00 to $32.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Mizuho set a $37.00 price target on Axalta Coating Systems in a report on Tuesday. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.36.
Get Our Latest Research Report on AXTA
Insider Activity
In related news, insider Troy D. Weaver sold 10,457 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the completion of the transaction, the insider now directly owns 74,905 shares of the company's stock, valued at $2,814,180.85. This trade represents a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.40% of the company's stock.
About Axalta Coating Systems
(
Free Report)
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.
Featured Stories
Before you consider Axalta Coating Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Axalta Coating Systems wasn't on the list.
While Axalta Coating Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
