Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,000 shares of the specialty chemicals company’s stock after buying an additional 1,200 shares during the quarter. State of Michigan Retirement System’s holdings in Axalta Coating Systems were worth $1,857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Fifth Third Bancorp lifted its holdings in shares of Axalta Coating Systems by 47.7% in the 4th quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 338 shares during the period. M&T Bank Corp raised its holdings in Axalta Coating Systems by 6.5% in the 4th quarter. M&T Bank Corp now owns 9,161 shares of the specialty chemicals company’s stock worth $311,000 after purchasing an additional 556 shares during the period. CWM LLC raised its holdings in Axalta Coating Systems by 23.2% in the 4th quarter. CWM LLC now owns 3,049 shares of the specialty chemicals company’s stock worth $104,000 after purchasing an additional 575 shares during the period. PNC Financial Services Group Inc. raised its holdings in Axalta Coating Systems by 1.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 56,174 shares of the specialty chemicals company’s stock worth $1,908,000 after purchasing an additional 576 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. raised its holdings in Axalta Coating Systems by 1.1% in the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 80,345 shares of the specialty chemicals company’s stock worth $2,729,000 after purchasing an additional 890 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

Wall Street Analyst Weigh In

AXTA has been the subject of a number of analyst reports. Citigroup upped their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Royal Bank of Canada upped their price target on Axalta Coating Systems from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. KeyCorp boosted their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Barclays boosted their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird boosted their price objective on Axalta Coating Systems from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.23.

Axalta Coating Systems Price Performance

AXTA stock opened at $34.17 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.51. The business has a 50 day simple moving average of $34.87 and a 200-day simple moving average of $33.50. The firm has a market capitalization of $7.54 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 0.84 and a beta of 1.44. Axalta Coating Systems Ltd. has a 1 year low of $25.03 and a 1 year high of $36.98.

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

About Axalta Coating Systems

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.