Verition Fund Management LLC Grows Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Verition Fund Management LLC increased its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 55.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 621,376 shares of the specialty chemicals company's stock after buying an additional 221,943 shares during the period. Verition Fund Management LLC owned about 0.28% of Axalta Coating Systems worth $22,488,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AXTA. O Shaughnessy Asset Management LLC lifted its position in shares of Axalta Coating Systems by 9.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,450 shares of the specialty chemicals company's stock worth $222,000 after purchasing an additional 530 shares during the last quarter. Tidal Investments LLC lifted its holdings in Axalta Coating Systems by 51.3% during the 1st quarter. Tidal Investments LLC now owns 23,311 shares of the specialty chemicals company's stock worth $802,000 after buying an additional 7,901 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Axalta Coating Systems by 1,424.5% during the 1st quarter. Westwood Holdings Group Inc. now owns 545,089 shares of the specialty chemicals company's stock worth $18,746,000 after acquiring an additional 509,333 shares in the last quarter. SG Capital Management LLC purchased a new position in shares of Axalta Coating Systems in the 1st quarter valued at about $11,280,000. Finally, GAMMA Investing LLC raised its position in shares of Axalta Coating Systems by 111.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company's stock worth $48,000 after acquiring an additional 747 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Axalta Coating Systems Price Performance

AXTA traded down $0.07 on Friday, hitting $40.46. 747,352 shares of the company were exchanged, compared to its average volume of 2,007,591. Axalta Coating Systems Ltd. has a fifty-two week low of $30.40 and a fifty-two week high of $41.65. 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 firm has a market capitalization of $8.82 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. The business's fifty day moving average is $37.77 and its 200 day moving average is $35.97.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.08. The business had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The company's revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. As a group, sell-side analysts anticipate that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

AXTA has been the subject of several recent analyst reports. Mizuho boosted their price objective on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They issued an "outperform" rating and a $47.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. BMO Capital Markets boosted their target price on Axalta Coating Systems from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, 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 note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $42.45.

Axalta Coating Systems 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.