ProShare Advisors LLC lessened its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA – Get Rating) by 9.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,116 shares of the specialty chemicals company's stock after selling 1,299 shares during the quarter. ProShare Advisors LLC's holdings in Axalta Coating Systems were worth $323,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Axalta Coating Systems by 123.1% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,216,410 shares of the specialty chemicals company's stock worth $503,967,000 after buying an additional 8,395,583 shares during the last quarter. Pzena Investment Management LLC purchased a new position in shares of Axalta Coating Systems during the first quarter worth approximately $78,617,000. Millennium Management LLC grew its position in shares of Axalta Coating Systems by 22,098.7% during the fourth quarter. Millennium Management LLC now owns 1,824,068 shares of the specialty chemicals company's stock worth $60,413,000 after acquiring an additional 1,815,851 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Axalta Coating Systems by 70.6% in the 4th quarter. Schroder Investment Management Group now owns 2,498,566 shares of the specialty chemicals company's stock valued at $82,753,000 after acquiring an additional 1,034,089 shares during the period. Finally, Leeward Investments LLC MA purchased a new stake in Axalta Coating Systems in the 1st quarter valued at $24,662,000.
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Shares of AXTA stock opened at $24.85 on Tuesday. The business's fifty day moving average price is $24.66 and its 200 day moving average price is $25.28. The firm has a market capitalization of $5.48 billion, a PE ratio of 27.31, a P/E/G ratio of 1.35 and a beta of 1.32. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.93 and a quick ratio of 1.33. Axalta Coating Systems Ltd. has a 1-year low of $21.44 and a 1-year high of $34.12.
Axalta Coating Systems (NYSE:AXTA – Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The specialty chemicals company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. Axalta Coating Systems had a net margin of 4.49% and a return on equity of 21.80%. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the prior year, the company posted $0.48 EPS. As a group, sell-side analysts forecast that Axalta Coating Systems Ltd. will post 1.63 EPS for the current fiscal year.Wall Street Analyst Weigh In
Several research analysts have issued reports on AXTA shares. StockNews.com downgraded shares of Axalta Coating Systems from a "buy" rating to a "hold" rating in a research report on Friday, July 8th. KeyCorp boosted their price target on Axalta Coating Systems from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 28th. UBS Group reduced their price objective on Axalta Coating Systems from $33.00 to $30.00 in a research note on Wednesday, July 13th. Wells Fargo & Company lifted their target price on Axalta Coating Systems from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Thursday, July 28th. Finally, Mizuho cut their price target on Axalta Coating Systems from $34.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, July 14th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Axalta Coating Systems presently has a consensus rating of "Hold" and an average price target of $29.73.
About Axalta Coating Systems
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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. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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