Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,800 shares of the specialty chemicals company’s stock after selling 1,600 shares during the period. Louisiana State Employees Retirement System’s holdings in Axalta Coating Systems were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new stake in shares of Axalta Coating Systems in the second quarter worth approximately $30,000. GAMMA Investing LLC boosted its stake in shares of 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 worth $48,000 after acquiring an additional 747 shares during the last quarter. UMB Bank n.a. lifted its position in Axalta Coating Systems by 90.2% during the third quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock worth $56,000 after buying an additional 733 shares in the last quarter. Versant Capital Management Inc purchased a new position in Axalta Coating Systems during the second quarter worth approximately $71,000. Finally, Quarry LP purchased a new position in Axalta Coating Systems during the second quarter worth approximately $73,000. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Price Performance

NYSE:AXTA opened at $35.41 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 2.26 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $7.81 billion, a P/E ratio of 31.90, a P/E/G ratio of 0.87 and a beta of 1.44. Axalta Coating Systems Ltd. has a 52 week low of $25.49 and a 52 week high of $37.78. The stock’s fifty day moving average is $35.80 and its two-hundred day moving average is $34.97.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS. Equities analysts expect that Axalta Coating Systems Ltd. will post 2.06 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group reduced their price objective on 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. Royal Bank of Canada lifted their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. KeyCorp lifted their price objective 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. 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 report on Monday, August 5th. Finally, Robert W. Baird lifted their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Axalta Coating Systems currently has an average rating of “Moderate Buy” and an average target price of $41.00.

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.