Jupiter Asset Management Ltd. Raises Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Jupiter Asset Management Ltd. increased its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 35.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,620,459 shares of the specialty chemicals company’s stock after buying an additional 423,883 shares during the period. Jupiter Asset Management Ltd.’s holdings in Axalta Coating Systems were worth $55,452,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXTA. Eagle Bay Advisors LLC boosted its holdings in shares of Axalta Coating Systems by 116.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 443 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Axalta Coating Systems by 35.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 266 shares during the last quarter. True Wealth Design LLC bought a new stake in Axalta Coating Systems in the 3rd quarter valued at about $37,000. Millburn Ridgefield Corp bought a new stake in Axalta Coating Systems in the 3rd quarter valued at about $41,000. Finally, Jones Financial Companies Lllp raised its stake in Axalta Coating Systems by 60.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 498 shares during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AXTA. StockNews.com cut Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. BMO Capital Markets boosted their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. KeyCorp restated a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday, December 17th. Finally, Citigroup cut Axalta Coating Systems from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $41.00 in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Axalta Coating Systems has an average rating of “Moderate Buy” and an average price target of $43.08.

Axalta Coating Systems Stock Up 1.2 %

Shares of NYSE AXTA opened at $34.00 on Wednesday. Axalta Coating Systems Ltd. has a 12 month low of $30.41 and a 12 month high of $41.65. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 0.92 and a beta of 1.45. The business has a 50-day moving average of $35.96 and a 200-day moving average of $36.69.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.51 by $0.09. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Axalta Coating Systems’s revenue was up 1.1% on a year-over-year basis. Sell-side analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Insider Transactions at Axalta Coating Systems

In other Axalta Coating Systems news, insider Troy D. Weaver sold 10,457 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the completion of the sale, the insider now owns 74,905 shares of the company’s stock, valued at $2,814,180.85. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by insiders.

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.