Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC reduced its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,260 shares of the specialty chemicals company’s stock after selling 384 shares during the period. Pallas Capital Advisors LLC’s holdings in Axalta Coating Systems were worth $248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Axalta Coating Systems by 0.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock valued at $512,890,000 after acquiring an additional 137,209 shares in the last quarter. State Street Corp lifted its position in shares of Axalta Coating Systems by 0.7% in the third quarter. State Street Corp now owns 6,822,955 shares of the specialty chemicals company’s stock valued at $246,923,000 after acquiring an additional 46,813 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Axalta Coating Systems by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock valued at $128,852,000 after acquiring an additional 302,752 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Axalta Coating Systems by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock valued at $132,823,000 after acquiring an additional 31,894 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Axalta Coating Systems by 19.5% in the second quarter. The Manufacturers Life Insurance Company now owns 2,914,764 shares of the specialty chemicals company’s stock valued at $99,597,000 after acquiring an additional 475,493 shares in the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Price Performance

NYSE:AXTA opened at $35.38 on Thursday. Axalta Coating Systems Ltd. has a 52 week low of $30.40 and a 52 week high of $41.65. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $7.72 billion, a P/E ratio of 23.91, a P/E/G ratio of 0.83 and a beta of 1.46. The stock’s fifty day moving average is $37.57 and its two-hundred day moving average is $36.21.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Equities analysts expect that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AXTA shares. Barclays raised their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Citigroup downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $41.00 in a research report on Wednesday, December 18th. Evercore ISI assumed coverage on Axalta Coating Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Mizuho reduced their price objective on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.18.

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.