Axalta Coating Systems Ltd. (NYSE:AXTA) Stock Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 7.6% during the second quarter, Holdings Channel reports. The firm owned 1,703,396 shares of the specialty chemicals company’s stock after selling 140,488 shares during the period. Bank of New York Mellon Corp’s holdings in Axalta Coating Systems were worth $58,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXTA. Norges Bank bought a new stake in shares of Axalta Coating Systems in the 4th quarter worth approximately $82,878,000. Locust Wood Capital Advisers LLC bought a new stake in shares of Axalta Coating Systems in the 4th quarter worth approximately $66,346,000. Vanguard Group Inc. increased its position in shares of Axalta Coating Systems by 2.4% in the first quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after acquiring an additional 554,806 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Axalta Coating Systems by 1,424.5% in the first quarter. Westwood Holdings Group Inc. now owns 545,089 shares of the specialty chemicals company’s stock worth $18,746,000 after acquiring an additional 509,333 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Axalta Coating Systems by 4,604.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 435,429 shares of the specialty chemicals company’s stock worth $14,792,000 after acquiring an additional 426,173 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors.

Axalta Coating Systems Stock Performance

Shares of AXTA opened at $36.50 on Friday. The company’s 50 day moving average price is $34.76 and its 200 day moving average price is $34.06. Axalta Coating Systems Ltd. has a 52 week low of $25.03 and a 52 week high of $37.49. The company has a market capitalization of $8.05 billion, a PE ratio of 32.88, a PEG ratio of 0.91 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.51 and a current ratio of 2.26.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. Research analysts expect that Axalta Coating Systems Ltd. will post 2.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AXTA shares. Mizuho lifted their target price on shares of Axalta Coating Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Royal Bank of Canada lifted their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company raised shares of Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 11th. UBS Group dropped their target price on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, KeyCorp lifted their target price on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

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.