Allspring Global Investments Holdings LLC Has $12.02 Million Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Allspring Global Investments Holdings LLC reduced its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 353,692 shares of the specialty chemicals company’s stock after selling 354,214 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Axalta Coating Systems were worth $12,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. KB Financial Partners LLC bought a new stake in Axalta Coating Systems in the first quarter valued at $25,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Axalta Coating Systems in the 2nd quarter valued at $28,000. Fifth Third Bancorp boosted its stake in shares of Axalta Coating Systems by 47.7% in the 4th quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 338 shares in the last quarter. CWM LLC grew its holdings in shares of Axalta Coating Systems by 35.6% in the 3rd quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock worth $67,000 after purchasing an additional 649 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its position in shares of Axalta Coating Systems by 21.6% during the 2nd quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the specialty chemicals company’s stock worth $169,000 after purchasing an additional 915 shares in the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Price Performance

Axalta Coating Systems stock opened at $31.71 on Tuesday. The business’s 50-day simple moving average is $32.69 and its 200 day simple moving average is $31.45. The company has a quick ratio of 1.46, a current ratio of 1.98 and a debt-to-equity ratio of 1.96. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 1.03 and a beta of 1.51. Axalta Coating Systems Ltd. has a 12-month low of $25.03 and a 12-month high of $34.53.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Thursday, February 8th. The specialty chemicals company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, research analysts anticipate that Axalta Coating Systems Ltd. will post 1.88 earnings per share for the current year.

Wall Street Analyst Weigh In

AXTA has been the topic of a number of recent analyst reports. Wolfe Research assumed coverage on shares of Axalta Coating Systems in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. UBS Group downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $35.00 to $36.00 in a report on Monday, January 8th. Citigroup raised their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price objective on Axalta Coating Systems from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, Wells Fargo & Company increased their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.70.

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.