Federated Hermes Inc. Raises Stock Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Federated Hermes Inc. lifted its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 2,001.1% in the fourth quarter, HoldingsChannel reports. The firm owned 622,797 shares of the specialty chemicals company’s stock after purchasing an additional 593,156 shares during the quarter. Federated Hermes Inc.’s holdings in Axalta Coating Systems were worth $21,156,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AXTA. BlackRock Inc. raised its position in Axalta Coating Systems by 65.4% during the first 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. Millennium Management LLC raised its holdings in Axalta Coating Systems by 5,915.6% during the 4th quarter. Millennium Management LLC now owns 5,193,950 shares of the specialty chemicals company’s stock valued at $132,290,000 after buying an additional 5,107,608 shares during the period. State Street Corp lifted its position in Axalta Coating Systems by 68.2% in the first quarter. State Street Corp now owns 6,639,964 shares of the specialty chemicals company’s stock worth $201,124,000 after buying an additional 2,692,774 shares during the last quarter. Norges Bank purchased a new position in Axalta Coating Systems during the fourth quarter worth $53,517,000. Finally, Kinetic Partners Management LP bought a new position in Axalta Coating Systems during the third quarter valued at $40,603,000. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Stock Performance

AXTA stock opened at $30.87 on Monday. Axalta Coating Systems Ltd. has a 1-year low of $25.03 and a 1-year high of $34.53. The business has a 50-day moving average price of $32.67 and a 200 day moving average price of $31.58. The company has a market capitalization of $6.80 billion, a P/E ratio of 25.73, a PEG ratio of 1.00 and a beta of 1.51. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.98 and a quick ratio of 1.46.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Thursday, February 8th. The specialty chemicals company reported $0.43 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Axalta Coating Systems Ltd. will post 1.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on AXTA. JPMorgan Chase & Co. lifted their price target on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Wolfe Research began coverage on Axalta Coating Systems in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Citigroup raised their price target 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 upped their price objective for the company from $35.00 to $36.00 in a research report on Monday, January 8th. Finally, Wells Fargo & Company lifted their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.