Axalta Coating Systems Ltd. (NYSE:AXTA) Holdings Cut by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 25.6% during the second quarter, HoldingsChannel reports. The fund owned 73,801 shares of the specialty chemicals company’s stock after selling 25,346 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Axalta Coating Systems were worth $2,522,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AXTA. Bank of Nova Scotia acquired a new position in Axalta Coating Systems during the fourth quarter valued at approximately $1,736,000. Susquehanna Fundamental Investments LLC acquired a new position in Axalta Coating Systems in the 1st quarter valued at $3,871,000. GSA Capital Partners LLP bought a new position in Axalta Coating Systems in the 1st quarter worth $877,000. Vanguard Group Inc. lifted its position in Axalta Coating Systems by 2.4% during the 1st 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 during the last quarter. Finally, Assetmark Inc. boosted its holdings in Axalta Coating Systems by 13.0% during the fourth quarter. Assetmark Inc. now owns 251,081 shares of the specialty chemicals company’s stock valued at $8,529,000 after acquiring an additional 28,836 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Trading Up 0.8 %

Shares of AXTA stock opened at $35.98 on Thursday. The firm has a fifty day moving average of $35.03 and a 200-day moving average of $34.38. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 32.41, a P/E/G ratio of 0.81 and a beta of 1.44. Axalta Coating Systems Ltd. has a 52-week low of $25.03 and a 52-week high of $37.49. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.70 and a current ratio of 2.26.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, beating 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 company 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 business earned $0.35 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on AXTA. JPMorgan Chase & Co. lifted their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. KeyCorp lifted their price target on Axalta Coating Systems from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. UBS Group reduced their price objective on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Wells Fargo & Company upgraded shares of Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada upped their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.