American International Group Inc. Cuts Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

American International Group Inc. reduced its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 297,497 shares of the specialty chemicals company’s stock after selling 15,066 shares during the quarter. American International Group Inc.’s holdings in Axalta Coating Systems were worth $10,106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raleigh Capital Management Inc. purchased a new position in Axalta Coating Systems in the fourth quarter worth $48,000. Cubist Systematic Strategies LLC lifted its stake in shares of Axalta Coating Systems by 4,604.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 435,429 shares of the specialty chemicals company’s stock worth $14,792,000 after buying an additional 426,173 shares during the period. Natixis Investment Managers International lifted its stake in shares of Axalta Coating Systems by 33.4% during the fourth quarter. Natixis Investment Managers International now owns 21,795 shares of the specialty chemicals company’s stock worth $740,000 after buying an additional 5,460 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Axalta Coating Systems during the fourth quarter worth $1,413,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Axalta Coating Systems during the fourth quarter worth $2,474,000. 98.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on AXTA shares. KeyCorp lifted their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Robert W. Baird boosted their target price on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Citigroup boosted their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Mizuho boosted their target price on shares of Axalta Coating Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, Wolfe Research began coverage on shares of Axalta Coating Systems in a research report on Friday, March 1st. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Axalta Coating Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.23.

Axalta Coating Systems Stock Down 0.5 %

AXTA stock opened at $34.60 on Wednesday. The stock has a market capitalization of $7.63 billion, a P/E ratio of 31.17, a P/E/G ratio of 0.86 and a beta of 1.51. The firm has a 50-day simple moving average of $34.31 and a 200-day simple moving average of $33.40. The company has a quick ratio of 1.51, a current ratio of 2.07 and a debt-to-equity ratio of 1.92. 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 released its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share. Equities analysts forecast 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.