BNP Paribas Financial Markets Has $9.25 Million Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

BNP Paribas Financial Markets trimmed its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 21.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 255,551 shares of the specialty chemicals company’s stock after selling 68,531 shares during the period. BNP Paribas Financial Markets owned 0.12% of Axalta Coating Systems worth $9,248,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its holdings in Axalta Coating Systems by 35.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 266 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Axalta Coating Systems by 14.1% in the third quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company’s stock valued at $130,000 after purchasing an additional 444 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of Axalta Coating Systems by 0.4% in the second quarter. Wedge Capital Management L L P NC now owns 110,555 shares of the specialty chemicals company’s stock valued at $3,778,000 after purchasing an additional 453 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Axalta Coating Systems by 30.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,964 shares of the specialty chemicals company’s stock worth $71,000 after buying an additional 455 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Axalta Coating Systems by 4.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,162 shares of the specialty chemicals company’s stock worth $404,000 after buying an additional 473 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock opened at $40.57 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. The company has a market cap of $8.85 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. The company has a 50 day moving average of $37.85 and a 200-day moving average of $36.01. Axalta Coating Systems Ltd. has a 1-year low of $30.40 and a 1-year high of $41.65.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Evercore ISI began 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. Barclays boosted their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets raised their price target on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $42.45.

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.