Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,403 shares of the specialty chemicals company’s stock after selling 5,929 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Axalta Coating Systems worth $9,641,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd raised its holdings in shares of Axalta Coating Systems by 68.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 36,191 shares of the specialty chemicals company’s stock valued at $1,310,000 after buying an additional 14,704 shares during the period. Federated Hermes Inc. raised its stake in shares of Axalta Coating Systems by 3.0% during the second quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock valued at $30,623,000 after purchasing an additional 25,717 shares during the period. AQR Capital Management LLC lifted its position in shares of Axalta Coating Systems by 126.7% during the second quarter. AQR Capital Management LLC now owns 794,454 shares of the specialty chemicals company’s stock worth $26,817,000 after purchasing an additional 443,946 shares in the last quarter. Savant Capital LLC purchased a new position in shares of Axalta Coating Systems in the second quarter valued at $541,000. Finally, Dimensional Fund Advisors LP grew its holdings in Axalta Coating Systems by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock valued at $128,852,000 after purchasing an additional 302,752 shares in the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Axalta Coating Systems Price Performance

Shares of NYSE:AXTA opened at $37.72 on Tuesday. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The firm has a 50-day simple moving average of $38.49 and a 200 day simple moving average of $36.32. Axalta Coating Systems Ltd. has a fifty-two week low of $30.40 and a fifty-two week high of $41.65. The company has a market cap of $8.23 billion, a PE ratio of 25.49, a P/E/G ratio of 0.83 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 earnings per share. On average, sell-side analysts anticipate that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on AXTA. Mizuho boosted their price objective on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays raised their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Evercore ISI assumed coverage on Axalta Coating Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 target price on the stock. Finally, KeyCorp increased their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Axalta Coating Systems has an average rating of “Buy” and a consensus price target of $42.45.

Axalta Coating Systems Company 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.