Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp increased its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 1.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,614 shares of the specialty chemicals company’s stock after buying an additional 2,494 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of Axalta Coating Systems worth $6,624,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Nova Scotia acquired a new stake in Axalta Coating Systems in the fourth quarter worth about $1,736,000. Wellington Management Group LLP boosted its stake in Axalta Coating Systems by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock valued at $125,292,000 after purchasing an additional 382,949 shares in the last quarter. Assetmark Inc. increased its position in shares of Axalta Coating Systems by 13.0% during the 4th quarter. Assetmark Inc. now owns 251,081 shares of the specialty chemicals company’s stock valued at $8,529,000 after purchasing an additional 28,836 shares during the period. Trexquant Investment LP bought a new stake in shares of Axalta Coating Systems in the 4th quarter worth $9,385,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Axalta Coating Systems in the fourth quarter valued at $1,413,000. Institutional investors own 98.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company upgraded shares of Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 11th. UBS Group dropped their price target on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday. KeyCorp lifted their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Citigroup increased their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Axalta Coating Systems Stock Up 0.2 %

Shares of Axalta Coating Systems stock traded up $0.06 during midday trading on Friday, reaching $35.53. 56,851 shares of the company’s stock traded hands, compared to its average volume of 2,042,343. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 0.86 and a beta of 1.44. Axalta Coating Systems Ltd. has a 52 week low of $25.03 and a 52 week high of $36.98. The company’s 50 day simple moving average is $35.11 and its 200 day simple moving average is $33.52. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.51 and a current ratio of 2.07.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities analysts expect that Axalta Coating Systems Ltd. will post 1.99 earnings per share 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.