Allspring Global Investments Holdings LLC Has $4.65 Million Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Allspring Global Investments Holdings LLC lowered its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 61.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 135,241 shares of the specialty chemicals company’s stock after selling 218,451 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Axalta Coating Systems were worth $4,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cooper Financial Group acquired a new stake in Axalta Coating Systems in the 1st quarter valued at approximately $200,000. Park Avenue Securities LLC grew its holdings in Axalta Coating Systems by 6.7% in the 1st quarter. Park Avenue Securities LLC now owns 44,699 shares of the specialty chemicals company’s stock valued at $1,537,000 after buying an additional 2,789 shares during the last quarter. Perpetual Ltd grew its holdings in Axalta Coating Systems by 3.0% in the 1st quarter. Perpetual Ltd now owns 676,735 shares of the specialty chemicals company’s stock valued at $23,273,000 after buying an additional 19,562 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Axalta Coating Systems in the 4th quarter valued at approximately $88,000. Finally, Quadrature Capital Ltd acquired a new stake in Axalta Coating Systems in the 4th quarter valued at approximately $1,413,000. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Price Performance

AXTA traded up $0.05 during trading on Tuesday, hitting $33.75. The company’s stock had a trading volume of 223,793 shares, compared to its average volume of 2,054,648. The firm’s 50 day moving average price is $34.70 and its two-hundred day moving average price is $33.50. 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 12 month low of $25.03 and a 12 month high of $36.98. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts forecast that Axalta Coating Systems Ltd. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. KeyCorp raised their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Mizuho raised their price objective on Axalta Coating Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. BMO Capital Markets raised their price objective on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada raised their price objective on Axalta Coating Systems from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.23.

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.