Massachusetts Financial Services Co. MA Sells 484,145 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Massachusetts Financial Services Co. MA reduced its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 7.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,337,037 shares of the specialty chemicals company’s stock after selling 484,145 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.87% of Axalta Coating Systems worth $216,537,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AXTA. Plato Investment Management Ltd purchased a new stake in Axalta Coating Systems in the second quarter valued at about $30,000. TFO Wealth Partners LLC grew its holdings in Axalta Coating Systems by 12,022.2% in the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,082 shares during the period. Raleigh Capital Management Inc. acquired a new stake in Axalta Coating Systems in the fourth quarter valued at approximately $48,000. GAMMA Investing LLC grew its holdings in Axalta Coating Systems by 111.5% in the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 747 shares during the period. Finally, Versant Capital Management Inc acquired a new stake in Axalta Coating Systems in the second quarter valued at approximately $71,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AXTA has been the topic of several research analyst reports. Mizuho raised their price objective on Axalta Coating Systems from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Robert W. Baird raised their price objective on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, August 5th. KeyCorp raised their price objective on Axalta Coating Systems from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, UBS Group dropped their price objective on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock opened at $35.70 on Wednesday. Axalta Coating Systems Ltd. has a one year low of $25.03 and a one year high of $37.49. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 0.81 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.70 and a current ratio of 2.26. The business’s 50 day moving average price is $35.00 and its 200 day moving average price is $34.36.

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, topping analysts’ consensus estimates of $0.51 by $0.06. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, research analysts predict that Axalta Coating Systems Ltd. will post 2.07 EPS for the current year.

Axalta Coating Systems Company 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.