Parnassus Investments CA Grows Stake in Axalta Coating Systems Ltd (AXTA)

Parnassus Investments CA lifted its holdings in Axalta Coating Systems Ltd (NYSE:AXTA) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,584,561 shares of the specialty chemicals company’s stock after acquiring an additional 75,000 shares during the quarter. Parnassus Investments CA owned 1.50% of Axalta Coating Systems worth $83,950,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Federated Investors Inc. PA lifted its stake in Axalta Coating Systems by 790.5% in the third quarter. Federated Investors Inc. PA now owns 986,235 shares of the specialty chemicals company’s stock worth $28,759,000 after acquiring an additional 875,480 shares during the last quarter. CWM LLC lifted its stake in Axalta Coating Systems by 21.8% in the third quarter. CWM LLC now owns 239,477 shares of the specialty chemicals company’s stock worth $6,983,000 after acquiring an additional 42,822 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Axalta Coating Systems by 8.5% in the third quarter. Wells Fargo & Company MN now owns 1,939,994 shares of the specialty chemicals company’s stock worth $56,570,000 after acquiring an additional 151,808 shares during the last quarter. FMR LLC lifted its stake in Axalta Coating Systems by 8.1% in the second quarter. FMR LLC now owns 3,723,288 shares of the specialty chemicals company’s stock worth $112,853,000 after acquiring an additional 279,374 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Axalta Coating Systems by 35.0% in the third quarter. Prudential Financial Inc. now owns 10,810 shares of the specialty chemicals company’s stock worth $315,000 after acquiring an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 99.25% of the company’s stock.

Several analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Axalta Coating Systems from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Friday, October 26th. KeyCorp reduced their price objective on shares of Axalta Coating Systems from $36.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, October 26th. Seaport Global Securities upgraded shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Monday, October 29th. ValuEngine downgraded shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. Finally, Nomura reduced their price objective on shares of Axalta Coating Systems from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $30.30.

In other news, Director Charles W. Shaver sold 71,897 shares of Axalta Coating Systems stock in a transaction on Wednesday, January 9th. The shares were sold at an average price of $25.02, for a total value of $1,798,862.94. Following the transaction, the director now directly owns 442,419 shares of the company’s stock, valued at approximately $11,069,323.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert W. Bryant sold 2,319 shares of Axalta Coating Systems stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $25.92, for a total transaction of $60,108.48. Following the completion of the transaction, the chief executive officer now directly owns 176,956 shares in the company, valued at $4,586,699.52. The disclosure for this sale can be found here. Insiders sold a total of 434,637 shares of company stock worth $10,948,005 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Shares of NYSE:AXTA opened at $26.71 on Tuesday. The company has a market cap of $6.22 billion, a PE ratio of 20.87, a P/E/G ratio of 1.49 and a beta of 1.25. The company has a quick ratio of 1.63, a current ratio of 2.23 and a debt-to-equity ratio of 2.86. Axalta Coating Systems Ltd has a twelve month low of $21.58 and a twelve month high of $33.30.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, January 30th. The specialty chemicals company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Axalta Coating Systems had a net margin of 4.42% and a return on equity of 21.75%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.26) EPS. On average, equities research analysts forecast that Axalta Coating Systems Ltd will post 1.34 EPS for the current year.

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About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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