Shell Asset Management Co. Acquires 2,312 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Shell Asset Management Co. increased its stake in Axalta Coating Systems Ltd. (NYSE:AXTAGet Rating) by 14.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,906 shares of the specialty chemicals company’s stock after buying an additional 2,312 shares during the period. Shell Asset Management Co.’s holdings in Axalta Coating Systems were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atticus Wealth Management LLC purchased a new position in shares of Axalta Coating Systems during the second quarter worth approximately $32,000. Parallel Advisors LLC increased its holdings in Axalta Coating Systems by 42.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,134 shares of the specialty chemicals company’s stock worth $47,000 after purchasing an additional 640 shares during the period. M&T Bank Corp bought a new stake in Axalta Coating Systems during the 2nd quarter valued at $192,000. American Trust purchased a new stake in shares of Axalta Coating Systems in the 1st quarter worth $202,000. Finally, Xponance Inc. purchased a new stake in shares of Axalta Coating Systems in the 2nd quarter worth $204,000.

Axalta Coating Systems Stock Performance

AXTA opened at $25.66 on Thursday. The company has a market cap of $5.66 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 1.51 and a beta of 1.34. The company has a quick ratio of 1.36, a current ratio of 1.98 and a debt-to-equity ratio of 2.78. The firm’s 50-day moving average price is $23.60 and its 200-day moving average price is $24.62. Axalta Coating Systems Ltd. has a 52-week low of $20.66 and a 52-week high of $34.12.

Axalta Coating Systems (NYSE:AXTAGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The specialty chemicals company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Axalta Coating Systems had a net margin of 4.20% and a return on equity of 22.19%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted $0.39 EPS. Axalta Coating Systems’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Axalta Coating Systems Ltd. will post 1.47 EPS for the current fiscal year.

Analysts Set New Price Targets

AXTA has been the subject of several recent research reports. Morgan Stanley decreased their price objective on Axalta Coating Systems from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, October 28th. Robert W. Baird lowered their price target on shares of Axalta Coating Systems from $35.00 to $30.00 in a research report on Thursday, October 27th. Citigroup lifted their price objective on shares of Axalta Coating Systems to $25.60 in a report on Tuesday, November 1st. Credit Suisse Group assumed coverage on Axalta Coating Systems in a report on Friday, October 21st. They set an “underperform” rating and a $20.00 target price for the company. Finally, KeyCorp dropped their target price on Axalta Coating Systems from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.68.

Axalta Coating Systems Profile

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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. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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

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