Franklin Resources Inc. trimmed its position in shares of Axalta Coating Systems Ltd (NYSE:AXTA) by 13.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,502,131 shares of the specialty chemicals company’s stock after selling 985,562 shares during the period. Franklin Resources Inc. owned approximately 2.67% of Axalta Coating Systems worth $210,409,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Axalta Coating Systems by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,309,651 shares of the specialty chemicals company’s stock valued at $66,795,000 after acquiring an additional 22,515 shares during the period. State of Wisconsin Investment Board increased its stake in Axalta Coating Systems by 31.9% during the third quarter. State of Wisconsin Investment Board now owns 532,080 shares of the specialty chemicals company’s stock valued at $15,388,000 after acquiring an additional 128,682 shares during the period. Yellowstone Partners LLC bought a new position in Axalta Coating Systems during the third quarter valued at about $2,410,000. Stifel Financial Corp increased its stake in Axalta Coating Systems by 37.8% during the third quarter. Stifel Financial Corp now owns 134,393 shares of the specialty chemicals company’s stock valued at $3,887,000 after acquiring an additional 36,883 shares during the period. Finally, Jane Street Group LLC bought a new position in Axalta Coating Systems during the third quarter valued at about $395,000.
Several equities analysts recently issued reports on AXTA shares. BidaskClub lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. TheStreet upgraded Axalta Coating Systems from a “c” rating to a “b-” rating in a research note on Wednesday, November 15th. KeyCorp restated an “overweight” rating and set a $40.00 price target (up from $36.00) on shares of Axalta Coating Systems in a research note on Tuesday, November 28th. Vertical Research lowered Axalta Coating Systems from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Friday, December 1st. Finally, Zacks Investment Research upgraded Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.50.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Axalta Coating Systems had a return on equity of 20.91% and a net margin of 0.84%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) earnings per share. equities research analysts predict that Axalta Coating Systems Ltd will post 1.34 EPS for the current fiscal year.
In other news, VP Sean M. Lannon sold 1,080 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $30.77, for a total value of $33,231.60. Following the transaction, the vice president now directly owns 14,243 shares of the company’s stock, valued at approximately $438,257.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles W. Shaver sold 235,810 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $30.58, for a total value of $7,211,069.80. Following the completion of the transaction, the chief executive officer now directly owns 522,752 shares in the company, valued at $15,985,756.16. The disclosure for this sale can be found here. Insiders have sold 473,902 shares of company stock worth $14,498,467 over the last ninety days. Company insiders own 2.30% of the company’s stock.
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Axalta Coating Systems Company Profile
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.
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