Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 3.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 22,832 shares of the specialty chemicals company’s stock after selling 817 shares during the quarter. Shell Asset Management Co.’s holdings in Axalta Coating Systems were worth $785,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AXTA. Victory Capital Management Inc. boosted its position in Axalta Coating Systems by 1,856.6% during the 4th quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock worth $199,288,000 after acquiring an additional 5,566,757 shares during the period. Norges Bank acquired a new position in Axalta Coating Systems during the 4th quarter worth $82,878,000. Locust Wood Capital Advisers LLC acquired a new position in Axalta Coating Systems during the 4th quarter worth $66,346,000. Vaughan Nelson Investment Management L.P. boosted its position in Axalta Coating Systems by 39.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,216,463 shares of the specialty chemicals company’s stock worth $75,293,000 after acquiring an additional 631,975 shares during the period. Finally, Federated Hermes Inc. boosted its position in Axalta Coating Systems by 2,001.1% during the 4th quarter. Federated Hermes Inc. now owns 622,797 shares of the specialty chemicals company’s stock worth $21,156,000 after acquiring an additional 593,156 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Stock Performance

AXTA stock opened at $34.87 on Friday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.51 and a current ratio of 2.07. The stock has a market cap of $7.69 billion, a P/E ratio of 31.41, a P/E/G ratio of 0.89 and a beta of 1.44. The firm has a 50 day simple moving average of $34.98 and a 200 day simple moving average of $33.65. Axalta Coating Systems Ltd. has a 52 week low of $25.03 and a 52 week high of $36.98.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.40 by $0.08. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. Research analysts anticipate that Axalta Coating Systems Ltd. will post 1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on AXTA shares. Barclays upped their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Royal Bank of Canada upped their price objective on Axalta Coating Systems from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. UBS Group cut their price objective on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Mizuho upped their price objective on Axalta Coating Systems from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, Citigroup upped their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.50.

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.