Axalta Coating Systems Ltd. $AXTA Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 423.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,022,606 shares of the specialty chemicals company’s stock after buying an additional 1,636,395 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Axalta Coating Systems were worth $57,887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Axalta Coating Systems by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,849,202 shares of the specialty chemicals company’s stock valued at $114,301,000 after purchasing an additional 11,749 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Axalta Coating Systems by 44.3% in the second quarter. Qube Research & Technologies Ltd now owns 3,535,462 shares of the specialty chemicals company’s stock valued at $104,968,000 after acquiring an additional 1,085,466 shares during the last quarter. Locust Wood Capital Advisers LLC grew its holdings in shares of Axalta Coating Systems by 7.1% during the 3rd quarter. Locust Wood Capital Advisers LLC now owns 3,472,354 shares of the specialty chemicals company’s stock worth $99,379,000 after purchasing an additional 231,498 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Axalta Coating Systems by 32.6% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,752,000 shares of the specialty chemicals company’s stock worth $81,707,000 after buying an additional 677,000 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Axalta Coating Systems by 301.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,319,863 shares of the specialty chemicals company’s stock valued at $68,877,000 after purchasing an additional 1,742,203 shares in the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AXTA shares. Robert W. Baird reiterated a “neutral” rating and set a $35.00 target price (down from $42.00) on shares of Axalta Coating Systems in a report on Wednesday, January 7th. JPMorgan Chase & Co. dropped their price objective on shares of Axalta Coating Systems from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. UBS Group cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $39.00 to $35.00 in a research report on Monday, January 12th. Citigroup raised their price target on shares of Axalta Coating Systems from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Axalta Coating Systems in a report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.56.

Axalta Coating Systems Stock Down 1.6%

NYSE:AXTA opened at $33.56 on Monday. The stock has a 50-day simple moving average of $31.90 and a 200 day simple moving average of $30.23. Axalta Coating Systems Ltd. has a one year low of $26.28 and a one year high of $38.37. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.59 and a current ratio of 2.20.

Axalta Coating Systems Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.