Shelton Capital Management Reduces Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Shelton Capital Management lowered its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 6.4% in the 4th quarter, HoldingsChannel reports. The fund owned 8,277 shares of the specialty chemicals company’s stock after selling 569 shares during the period. Shelton Capital Management’s holdings in Axalta Coating Systems were worth $283,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Axalta Coating Systems during the 4th quarter worth about $87,850,000. Victory Capital Management Inc. lifted its holdings in shares of Axalta Coating Systems by 9.6% in the fourth quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company’s stock worth $387,439,000 after buying an additional 988,397 shares in the last quarter. FIL Ltd lifted its holdings in shares of Axalta Coating Systems by 58.9% in the fourth quarter. FIL Ltd now owns 1,480,871 shares of the specialty chemicals company’s stock worth $50,675,000 after buying an additional 548,752 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Axalta Coating Systems by 35.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,620,459 shares of the specialty chemicals company’s stock valued at $55,452,000 after acquiring an additional 423,883 shares during the period. Finally, Schroder Investment Management Group purchased a new position in Axalta Coating Systems during the fourth quarter valued at approximately $13,512,000. Institutional investors own 98.28% of the company’s stock.

Insider Buying and Selling at Axalta Coating Systems

In related news, insider Troy D. Weaver sold 10,457 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $37.57, for a total value of $392,869.49. Following the completion of the transaction, the insider now owns 74,905 shares of the company’s stock, valued at approximately $2,814,180.85. This trade represents a 12.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on Axalta Coating Systems from $42.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday. Wolfe Research upgraded Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price target for the company in a research report on Friday, January 17th. KeyCorp restated a “sector weight” rating on shares of Axalta Coating Systems in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Citigroup decreased their price target on shares of Axalta Coating Systems from $42.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Axalta Coating Systems currently has an average rating of “Moderate Buy” and a consensus price target of $41.64.

Axalta Coating Systems Stock Performance

AXTA opened at $30.24 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47. Axalta Coating Systems Ltd. has a 1-year low of $27.70 and a 1-year high of $41.66. The company has a 50 day simple moving average of $34.63 and a two-hundred day simple moving average of $36.20. The firm has a market cap of $6.60 billion, a P/E ratio of 16.99, a PEG ratio of 0.92 and a beta of 1.33.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. Equities analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

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.