Axalta Coating Systems Ltd. (NYSE:AXTA) Holdings Reduced by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,403 shares of the specialty chemicals company’s stock after selling 5,929 shares during the period. Retirement Systems of Alabama’s holdings in Axalta Coating Systems were worth $9,641,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AXTA. Barrow Hanley Mewhinney & Strauss LLC increased its position in Axalta Coating Systems by 0.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock valued at $512,890,000 after acquiring an additional 137,209 shares during the period. Victory Capital Management Inc. increased its stake in Axalta Coating Systems by 5.6% during the 2nd quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock valued at $355,479,000 after buying an additional 550,970 shares during the period. State Street Corp increased its stake in Axalta Coating Systems by 0.7% during the 3rd quarter. State Street Corp now owns 6,822,955 shares of the specialty chemicals company’s stock valued at $246,923,000 after buying an additional 46,813 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 worth $128,852,000 after buying an additional 302,752 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Axalta Coating Systems by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock worth $132,823,000 after acquiring an additional 31,894 shares during the period. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on AXTA shares. Evercore ISI initiated coverage on Axalta Coating Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 target price on the stock. Barclays boosted their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. KeyCorp raised 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. BMO Capital Markets boosted their price target on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada raised their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Axalta Coating Systems presently has a consensus rating of “Buy” and an average target price of $42.45.

Axalta Coating Systems Stock Down 1.3 %

AXTA stock opened at $37.72 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42. The firm has a market capitalization of $8.23 billion, a P/E ratio of 25.49, a P/E/G ratio of 0.83 and a beta of 1.44. Axalta Coating Systems Ltd. has a 52-week low of $30.40 and a 52-week high of $41.65. The company’s 50 day simple moving average is $38.49 and its 200-day simple moving average is $36.32.

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