Wedge Capital Management L L P NC Cuts Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Wedge Capital Management L L P NC cut its position in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,480 shares of the specialty chemicals company's stock after selling 13,345 shares during the period. Wedge Capital Management L L P NC's holdings in Axalta Coating Systems were worth $3,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Axalta Coating Systems by 407.6% during the 2nd quarter. American Century Companies Inc. now owns 237,846 shares of the specialty chemicals company's stock valued at $8,127,000 after purchasing an additional 190,989 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Axalta Coating Systems by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company's stock valued at $128,852,000 after buying an additional 302,752 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Axalta Coating Systems by 150.2% during the 2nd quarter. Hsbc Holdings PLC now owns 244,721 shares of the specialty chemicals company's stock valued at $8,335,000 after buying an additional 146,912 shares in the last quarter. XTX Topco Ltd bought a new stake in Axalta Coating Systems in the 2nd quarter worth approximately $224,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Axalta Coating Systems by 1.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 263,700 shares of the specialty chemicals company's stock worth $9,011,000 after acquiring an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors own 98.28% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AXTA. Wolfe Research upgraded shares of Axalta Coating Systems from a "peer perform" rating to an "outperform" rating and set a $41.00 price target on the stock in a research report on Friday. KeyCorp restated a "sector weight" rating on shares of Axalta Coating Systems in a report on Tuesday, December 17th. Barclays increased their price target on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Mizuho decreased their price objective on Axalta Coating Systems from $43.00 to $41.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada lifted their target price on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Axalta Coating Systems Trading Up 1.7 %

Shares of NYSE AXTA traded up $0.62 during mid-day trading on Monday, reaching $36.28. The company had a trading volume of 1,401,029 shares, compared to its average volume of 1,831,513. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. Axalta Coating Systems Ltd. has a 52 week low of $30.40 and a 52 week high of $41.65. The business's 50-day moving average is $37.33 and its 200-day moving average is $36.25. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS 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 the consensus estimate of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. Equities analysts expect that Axalta Coating Systems Ltd. will post 2.15 earnings per share for the current 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.