Texas Permanent School Fund Corp Reduces Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Texas Permanent School Fund Corp lowered its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 14.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 164,727 shares of the specialty chemicals company’s stock after selling 27,887 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Axalta Coating Systems were worth $5,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. M&T Bank Corp grew its stake in shares of Axalta Coating Systems by 6.5% during the 4th quarter. M&T Bank Corp now owns 9,161 shares of the specialty chemicals company’s stock valued at $311,000 after purchasing an additional 556 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Axalta Coating Systems by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,407,733 shares of the specialty chemicals company’s stock valued at $47,821,000 after buying an additional 28,809 shares during the last quarter. Teacher Retirement System of Texas raised its position in Axalta Coating Systems by 40.3% in the fourth quarter. Teacher Retirement System of Texas now owns 73,066 shares of the specialty chemicals company’s stock worth $2,482,000 after acquiring an additional 21,004 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Axalta Coating Systems by 2,220.4% during the 4th quarter. BNP Paribas Financial Markets now owns 252,673 shares of the specialty chemicals company’s stock worth $8,583,000 after acquiring an additional 241,784 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Axalta Coating Systems during the 4th quarter valued at $1,315,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AXTA. Royal Bank of Canada raised their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Mizuho lifted their price objective on Axalta Coating Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. KeyCorp boosted their price objective on Axalta Coating Systems from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Robert W. Baird upped their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Axalta Coating Systems Trading Up 0.2 %

Axalta Coating Systems stock opened at $34.51 on Friday. Axalta Coating Systems Ltd. has a 1 year low of $25.03 and a 1 year high of $37.49. The firm’s 50 day moving average price is $34.92 and its 200-day moving average price is $34.28. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.26 and a quick ratio of 1.70. The stock has a market cap of $7.61 billion, a P/E ratio of 31.09, a PEG ratio of 0.82 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company posted $0.35 earnings per share. Axalta Coating Systems’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that Axalta Coating Systems Ltd. will post 2.05 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.