Envestnet Asset Management Inc. Acquires 38,031 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Envestnet Asset Management Inc. boosted its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 480,443 shares of the specialty chemicals company’s stock after purchasing an additional 38,031 shares during the quarter. Envestnet Asset Management Inc. owned about 0.22% of Axalta Coating Systems worth $15,936,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AXTA. GAMMA Investing LLC increased its holdings in Axalta Coating Systems by 3,005.3% in the 1st quarter. GAMMA Investing LLC now owns 76,855 shares of the specialty chemicals company’s stock worth $2,549,000 after acquiring an additional 74,380 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Axalta Coating Systems by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 502,087 shares of the specialty chemicals company’s stock valued at $16,654,000 after acquiring an additional 2,099 shares during the last quarter. DAVENPORT & Co LLC bought a new position in shares of Axalta Coating Systems in the first quarter worth approximately $204,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Axalta Coating Systems in the first quarter valued at about $572,000. Finally, New York State Teachers Retirement System raised its position in Axalta Coating Systems by 12.1% during the 1st quarter. New York State Teachers Retirement System now owns 77,859 shares of the specialty chemicals company’s stock valued at $2,583,000 after purchasing an additional 8,412 shares during the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Trading Up 0.5%

NYSE AXTA opened at $30.04 on Friday. Axalta Coating Systems Ltd. has a 52 week low of $27.70 and a 52 week high of $41.66. The business has a 50 day moving average price of $30.70 and a 200-day moving average price of $33.02. The company has a quick ratio of 1.53, a current ratio of 2.12 and a debt-to-equity ratio of 1.60. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 0.84 and a beta of 1.25.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Axalta Coating Systems had a net margin of 8.56% and a return on equity of 26.30%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXTA has been the topic of a number of recent research reports. Barclays cut their price objective on shares of Axalta Coating Systems from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. Citigroup reiterated a “neutral” rating and issued a $34.00 price target (down previously from $35.00) on shares of Axalta Coating Systems in a research note on Friday, June 13th. Morgan Stanley dropped their target price on shares of Axalta Coating Systems from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an “overweight” rating to a “neutral” rating and cut their target price for the company from $42.00 to $32.00 in a report on Thursday, May 8th. Finally, Wall Street Zen downgraded Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and an average target price of $39.47.

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.