Reinhart Partners Inc. cut its position in Axalta Coating Systems Ltd (NYSE:AXTA) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 822,098 shares of the specialty chemicals company’s stock after selling 14,215 shares during the quarter. Axalta Coating Systems accounts for about 2.3% of Reinhart Partners Inc.’s holdings, making the stock its 15th biggest holding. Reinhart Partners Inc. owned about 0.35% of Axalta Coating Systems worth $24,786,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Morgan Stanley grew its stake in Axalta Coating Systems by 58.2% in the second quarter. Morgan Stanley now owns 133,684 shares of the specialty chemicals company’s stock valued at $3,979,000 after acquiring an additional 49,178 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Axalta Coating Systems by 14.4% during the second quarter. Envestnet Asset Management Inc. now owns 154,591 shares of the specialty chemicals company’s stock valued at $4,602,000 after buying an additional 19,409 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Axalta Coating Systems by 138.6% during the second quarter. Cubist Systematic Strategies LLC now owns 336,499 shares of the specialty chemicals company’s stock valued at $10,018,000 after buying an additional 195,476 shares during the last quarter. Zacks Investment Management boosted its position in shares of Axalta Coating Systems by 5.3% during the second quarter. Zacks Investment Management now owns 166,760 shares of the specialty chemicals company’s stock valued at $4,964,000 after buying an additional 8,378 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Axalta Coating Systems by 3.3% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 40,600 shares of the specialty chemicals company’s stock valued at $1,209,000 after buying an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.
AXTA stock traded up $0.28 during midday trading on Friday, hitting $30.23. The company’s stock had a trading volume of 1,735,492 shares, compared to its average volume of 2,248,702. The stock’s 50-day moving average price is $29.56 and its 200 day moving average price is $28.39. The company has a quick ratio of 1.77, a current ratio of 2.35 and a debt-to-equity ratio of 2.82. Axalta Coating Systems Ltd has a 1 year low of $21.58 and a 1 year high of $32.20. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.24 and a beta of 1.45.
Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Thursday, October 24th. The specialty chemicals company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.07. Axalta Coating Systems had a return on equity of 31.05% and a net margin of 6.21%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s revenue was down 3.4% on a year-over-year basis. As a group, equities analysts forecast that Axalta Coating Systems Ltd will post 1.82 earnings per share for the current fiscal year.
Several brokerages recently issued reports on AXTA. Credit Suisse Group lifted their target price on Axalta Coating Systems from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Zacks Investment Research raised Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Wells Fargo & Co began coverage on Axalta Coating Systems in a research report on Tuesday, October 15th. They set a “market perform” rating and a $31.00 target price on the stock. ValuEngine cut Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised Axalta Coating Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $31.00 to $33.00 in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $32.82.
Axalta Coating Systems Profile
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers 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.
Recommended Story: High-Yield Dividend Stocks
Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.