Simplicity Solutions LLC Has $317,000 Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Simplicity Solutions LLC decreased its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 32.2% in the fourth quarter, HoldingsChannel reports. The firm owned 9,322 shares of the specialty chemicals company’s stock after selling 4,436 shares during the period. Simplicity Solutions LLC’s holdings in Axalta Coating Systems were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Axalta Coating Systems by 65.4% in the 1st quarter. BlackRock Inc. now owns 25,806,208 shares of the specialty chemicals company’s stock valued at $781,670,000 after purchasing an additional 10,208,408 shares during the period. Vanguard Group Inc. boosted its position in shares of Axalta Coating Systems by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 22,886,402 shares of the specialty chemicals company’s stock valued at $615,644,000 after purchasing an additional 949,673 shares during the period. JPMorgan Chase & Co. lifted its stake in Axalta Coating Systems by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after acquiring an additional 1,415,723 shares in the last quarter. Shapiro Capital Management LLC lifted its stake in Axalta Coating Systems by 12.8% in the 1st quarter. Shapiro Capital Management LLC now owns 9,477,301 shares of the specialty chemicals company’s stock worth $232,952,000 after acquiring an additional 1,074,872 shares in the last quarter. Finally, Ariel Investments LLC lifted its stake in Axalta Coating Systems by 23.8% in the 1st quarter. Ariel Investments LLC now owns 7,398,739 shares of the specialty chemicals company’s stock worth $181,861,000 after acquiring an additional 1,420,653 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased 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. Wells Fargo & Company increased their price objective on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. Citigroup increased their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. UBS Group downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $35.00 to $36.00 in a research note on Monday, January 8th. Finally, Wolfe Research initiated coverage on Axalta Coating Systems in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. One investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.70.

Axalta Coating Systems Stock Down 3.0 %

AXTA opened at $30.87 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.98 and a quick ratio of 1.46. The company has a market capitalization of $6.80 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51. The business has a 50-day moving average of $32.67 and a 200-day moving average of $31.52. Axalta Coating Systems Ltd. has a fifty-two week low of $25.03 and a fifty-two week high of $34.53.

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