Blueshift Asset Management LLC Buys Shares of 20,224 Axalta Coating Systems Ltd. (NYSE:AXTA)

Blueshift Asset Management LLC bought a new stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,224 shares of the specialty chemicals company’s stock, valued at approximately $617,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Boston Partners acquired a new stake in Axalta Coating Systems in the 2nd quarter worth approximately $138,459,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Axalta Coating Systems by 24.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,783,911 shares of the specialty chemicals company’s stock worth $389,783,000 after purchasing an additional 2,486,595 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Axalta Coating Systems during the second quarter worth $45,118,000. JPMorgan Chase & Co. boosted its holdings in Axalta Coating Systems by 50.1% in the first quarter. JPMorgan Chase & Co. now owns 4,413,235 shares of the specialty chemicals company’s stock valued at $130,544,000 after acquiring an additional 1,473,270 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Axalta Coating Systems by 323.2% in the first quarter. Morgan Stanley now owns 1,912,824 shares of the specialty chemicals company’s stock valued at $56,582,000 after acquiring an additional 1,460,860 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems stock opened at $30.83 on Thursday. The company has a debt-to-equity ratio of 2.48, a current ratio of 2.51 and a quick ratio of 2.00. Axalta Coating Systems Ltd. has a one year low of $24.38 and a one year high of $34.20. The firm has a market capitalization of $7.10 billion, a P/E ratio of 24.66, a PEG ratio of 0.68 and a beta of 1.43. The business has a fifty day moving average price of $30.01 and a 200-day moving average price of $30.70.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Sunday, July 25th. The specialty chemicals company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. Axalta Coating Systems had a return on equity of 34.83% and a net margin of 6.85%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.08 billion. Sell-side analysts expect that Axalta Coating Systems Ltd. will post 1.82 earnings per share for the current fiscal year.

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their target price on Axalta Coating Systems from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, July 28th. Citigroup downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $39.00 to $32.00 in a report on Thursday, September 9th. Mizuho assumed coverage on Axalta Coating Systems in a research note on Tuesday. They issued a “buy” rating and a $40.00 price target for the company. Zacks Investment Research downgraded Axalta Coating Systems from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Royal Bank of Canada reduced their target price on Axalta Coating Systems from $38.00 to $36.00 and set an “outperform” rating for the company in a research note on Tuesday, September 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Axalta Coating Systems presently has a consensus rating of “Buy” and an average price target of $36.27.

In other news, SVP Barry S. Snyder sold 865 shares of the firm’s stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $30.14, for a total transaction of $26,071.10. Following the transaction, the senior vice president now directly owns 48,880 shares of the company’s stock, valued at $1,473,243.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

Axalta Coating Systems Profile

Axalta Coating Systems Ltd. engages in the manufacture, marketing, and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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