Vestcor Inc Makes New $667,000 Investment in Axalta Coating Systems Ltd. (NYSE:AXTA)

Vestcor Inc bought a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,420 shares of the specialty chemicals company's stock, valued at approximately $667,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of Axalta Coating Systems by 89.7% during the 2nd quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company's stock worth $93,411,000 after buying an additional 1,292,434 shares during the last quarter. Interval Partners LP raised its position in Axalta Coating Systems by 716.6% during the second quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company's stock worth $41,857,000 after acquiring an additional 1,074,961 shares during the last quarter. PointState Capital LP purchased a new stake in shares of Axalta Coating Systems in the third quarter valued at about $30,257,000. Victory Capital Management Inc. grew its position in shares of 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 valued at $355,479,000 after purchasing an additional 550,970 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Axalta Coating Systems by 59.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,329,700 shares of the specialty chemicals company's stock worth $45,436,000 after purchasing an additional 497,000 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Axalta Coating Systems Trading Down 2.1 %

Shares of AXTA traded down $0.84 during trading hours on Friday, hitting $38.23. The stock had a trading volume of 1,706,150 shares, compared to its average volume of 1,979,374. The firm has a market cap of $8.34 billion, a P/E ratio of 26.40, a P/E/G ratio of 0.83 and a beta of 1.44. 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's fifty day simple moving average is $38.40 and its 200 day simple moving average is $36.26. Axalta Coating Systems Ltd. has a 12-month low of $30.40 and a 12-month 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.08. The business had revenue of $1.32 billion during 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 for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. Equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on AXTA. KeyCorp raised their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Mizuho raised their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Barclays boosted their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Finally, Evercore ISI started coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $47.00 target price on the stock. Two investment 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's stock. According to data from MarketBeat, Axalta Coating Systems presently has a consensus rating of "Buy" and a consensus price target 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.