Axalta Coating Systems Ltd (AXTA) Position Raised by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in Axalta Coating Systems Ltd (NYSE:AXTA) by 40.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,860,207 shares of the specialty chemicals company’s stock after purchasing an additional 1,390,710 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.02% of Axalta Coating Systems worth $141,724,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in AXTA. BlackRock Inc. lifted its position in Axalta Coating Systems by 5.0% during the second quarter. BlackRock Inc. now owns 11,018,312 shares of the specialty chemicals company’s stock valued at $333,966,000 after buying an additional 527,527 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in Axalta Coating Systems by 0.6% during the second quarter. Artisan Partners Limited Partnership now owns 4,092,929 shares of the specialty chemicals company’s stock valued at $124,057,000 after buying an additional 23,544 shares in the last quarter. Millennium Management LLC lifted its position in Axalta Coating Systems by 30.1% during the second quarter. Millennium Management LLC now owns 3,736,910 shares of the specialty chemicals company’s stock valued at $113,266,000 after buying an additional 863,979 shares in the last quarter. FMR LLC lifted its position in Axalta Coating Systems by 8.1% during the second quarter. FMR LLC now owns 3,723,288 shares of the specialty chemicals company’s stock valued at $112,853,000 after buying an additional 279,374 shares in the last quarter. Finally, Parnassus Investments CA lifted its position in Axalta Coating Systems by 32.5% during the second quarter. Parnassus Investments CA now owns 3,509,561 shares of the specialty chemicals company’s stock valued at $106,375,000 after buying an additional 860,061 shares in the last quarter.

In other news, EVP Steven R. Markevich sold 16,197 shares of the business’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $29.17, for a total transaction of $472,466.49. Following the transaction, the executive vice president now directly owns 161,697 shares of the company’s stock, valued at $4,716,701.49. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert M. Mclaughlin sold 4,920 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $30.33, for a total transaction of $149,223.60. Following the transaction, the director now directly owns 39,442 shares in the company, valued at $1,196,275.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 345,391 shares of company stock worth $10,268,682. Corporate insiders own 2.10% of the company’s stock.

NYSE AXTA opened at $23.99 on Tuesday. Axalta Coating Systems Ltd has a 52 week low of $23.65 and a 52 week high of $38.20. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.63 and a current ratio of 2.23. The firm has a market cap of $5.79 billion, a PE ratio of 18.37, a PEG ratio of 1.33 and a beta of 1.26.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Thursday, October 25th. The specialty chemicals company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. Axalta Coating Systems had a net margin of 1.49% and a return on equity of 22.53%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.16 billion. As a group, equities research analysts anticipate that Axalta Coating Systems Ltd will post 1.26 earnings per share for the current year.

A number of research analysts have weighed in on the stock. KeyCorp reduced their price target on shares of Axalta Coating Systems from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. JPMorgan Chase & Co. raised shares of Axalta Coating Systems from a “neutral” rating to an “overweight” rating and set a $33.00 price target on the stock in a research report on Friday, July 27th. Barclays reaffirmed a “hold” rating and set a $32.00 price target on shares of Axalta Coating Systems in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. Finally, Nomura reduced their price target on shares of Axalta Coating Systems from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Axalta Coating Systems currently has a consensus rating of “Hold” and a consensus price target of $31.67.

Axalta Coating Systems Profile

Axalta Coating Systems Ltd. manufactures, markets, and distributes coatings systems. It operates through the following segments: Performance Coatings and Transportation Coatings. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. The Transportation Coatings segment offers advanced coatings technologies to original equipment manufacturers of light and commercial vehicles.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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